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HMRC internal manual

Community investment tax relief manual

Investment by community development finance institutions (CDFIs): Investments exceeding 20% of qualifying investment

SI2003/96 Schedule 1(5)

An investment by a CDFI is not a relevant investment for the purposes of SI2003/96 Regulation 8 (see CITM3030) while (if and for so long as) the amount invested in that enterprise as a consequence of that investment exceeds 20% of the amount of the CDFI’s investment fund (see CITM3010) at the anniversary of the accreditation date that immediately precedes the investment date.

For investments made during the first year following accreditation the 20% limit operates by reference to the amount of the investment fund at the time the investment by the CDFI is made.