Part 7

Community investment tax relief
Chapter 4

Limitations on claims and attribution

Limitations on claims

Accreditation of investor
239
1
This section applies where the investor becomes accredited under Chapter 2 of Part 7 of ITA 2007 with effect from a time within the 5 year period.
2
No claim in respect of the investment may be made—
a
for the relevant accounting period, or
b
for any later accounting period.
3
To find the relevant accounting period proceed under the rest of this section, in which references to the time of accreditation are to the time with effect from which the investor becomes accredited.
4
If the time of accreditation falls within the first year of the 5 year period, the relevant accounting period is the accounting period in which the investment date fell.
5
In any other case the relevant accounting period is—
a
the accounting period in which the last anniversary of the investment date before the time of accreditation fell, or
b
if the time of accreditation itself falls on an anniversary of the investment date, the accounting period in which that anniversary falls.