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HMRC internal manual

Community investment tax relief manual

HM Revenue & Customs
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Accreditation of community development finance institutions (CDFIs): Withdrawal of accreditation - investment in residential property

SI2003/96 Regulation 15

Where a CDFI makes a direct or indirect investment in residential property (CITM2130) from its investment fund (see CITM3010) its accreditation is withdrawn unless:

  • the CDFI can demonstrate that, to the best of its knowledge and belief, it had not invested in residential property, and
  • the CDFI divests itself of the investment within three months of discovery, or being informed in writing by the Department for Business, Innovation & Skills (BIS), that an investment it has made is an investment in residential property.