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HMRC internal manual

Community investment tax relief manual

From
HM Revenue & Customs
Updated
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Withdrawal of relief: Value received

The CITR rules prevent an investor obtaining relief for any investment in a community development finance institution (CDFI) if the money invested is returned to the investor in some other form. Without such rules, investors could obtain tax relief without losing the use of their money.

The relevant guidance and legislation is:

CITM7070  Value received in respect of loans CTA2010/S246
ITA/s363      
       
  CITM7080 Value received in respect of shares & securities CTA2010/S247
ITA/s364      
  CITM7090 Meaning of period of restriction & the six year period CTA2010 S242
ITA/s359      
  CITM7100 Treatment for aggregating insignificant receipts that would otherwise be disregarded CTA2010/S248
ITA/s365      
  CITM7110 Determining when value is received  CTA2010/S249
ITA/s366      
  CITM7110 Determining the amount of value received  CTA2010/S250
ITA/s367      
  CITM7130 Allocating value received across multiple investments CTA2010/S251
ITA/s368      
  CITM7080 Effect on future claims to relief CTA2010/252
ITA/s369      
  CITM7140 Receipts by and from connected persons CTA2010/S253
ITA/s370