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HMRC internal manual

Community investment tax relief manual

HM Revenue & Customs
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Withdrawal of relief: Receipt of value by and from connected persons

CTA2010/Part 7/Chapter 5/S253; CTA2010/Part25/S1176; ITA/s370

Throughout those CITR rules that relate to receipt of value (CTA2010/Ss246 - 253 & ITA363 - 370), references to “investor” and community development finance institution (CDFI) are interpreted as including any person connected with the investor or CDFI at any time during the period of restriction (the six year period) of the investment (see CITM7090), whether or not the connection still exists at the time value is received.

The question of whether or not a person is connected with the investor or CDFI is interpreted in accordance with ITA/s993.