Part 7

Community investment tax relief
Chapter 6

Withdrawal or reduction of CITR

Introduction

Overview of Chapter
359
1
This Chapter provides for CITR to be withdrawn or reduced under—
a
section 360 (disposal of loan during 5 year period),
b
section 361 (disposal of securities or shares during 5 year period),
c
section 362 (repayment of loan capital during 5 year period),
d
section 363 (value received by investor during 6 year period: loans),
e
section 364 (value received by investor during 6 year period: securities or shares),
f
section 371 (CITR subsequently found not to have been due).
2
This Chapter also provides for the manner in which CITR is to be withdrawn or reduced (see section 372).
3
In this Chapter “the 6 year period” in relation to the investment is the period of 6 years beginning 12 months before the investment date.