Related Commentary  Related HMRC Manuals

866(1)  An investment is not a relevant investment if it is a qualifying time deposit made before 6 April 2012.

866(2)  An investment is a qualifying time deposit for the purposes of this section if–

(a)it is a deposit consisting of a loan of at least £50,000,

(b)the terms of the deposit require its repayment at a specified time within 5 years beginning with the date on which it is made,

(c)those terms do not make provision for the transfer of the right to repayment, and

(d)those terms prevent partial withdrawals of, or additions to, the deposit.

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