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HMRC internal manual

Community investment tax relief manual

From
HM Revenue & Customs
Updated
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Restructuring of community development finance institutions (CDFIs): Interaction with capital gains tax

Where an investment is eligible for relief under the CITR scheme the normal capital gains tax treatment of those investments provided for by the Taxation of Chargeable Gains Act 1992 are disapplied in certain circumstances. Those circumstances include:

CITM8010 rights issues
   
CITM8020 share reorganisations involving the exchange of shares for qualifying corporate bonds, and
CITM8030 company reconstructions and amalgamations involving the exchange of shares in or debentures of one company for shares in, or debentures of another company.