General conditions applying to investors and investments: Acquisition of partnership share
CTA2010/Part 7/Chapter 3/S234; ITA/s352
Tax relief under the CITR scheme is not available in respect of any investment that represents capital contributed by an investor on becoming a member of a Community Development Finance Institution (CDFI) that is constituted as a partnership.
Such capital contributions include any amount which:
- purports to be provided as loan capital, and
- is accounted for as partners’ capital in the partnership accounts.