Part 7Community investment tax relief
Chapter 5Withdrawal or reduction of CITR
Manner of withdrawal or reduction
255Manner of withdrawal or reduction of CITR
1
This section applies if any CITR has been obtained which falls to be withdrawn or reduced under this Chapter.
2
The CITR must be withdrawn or reduced by making an assessment to corporation tax for the accounting period for which the CITR was obtained.
3
An assessment under subsection (2) may be made at any time not more than 6 years after the end of the accounting period for which the CITR was obtained.
4
Subsection (3) is not to be taken to limit the application of paragraph 46(2A) of Schedule 18 to the Finance Act 1998 (loss of tax brought about deliberately).