CTA2010/Part 7/Chapter 5/S244; ITA/s361

Community investment tax relief obtained in respect of investments in shares or securities is either reduced or withdrawn if:

the investor disposes of all or part of the investment within the five year period beginning on the day the investment was made (the ‘five year period’),

at the time of the disposal the community development finance institution (CDFI) has not ceased to be accredited, and

the disposal does not arise out of a repayment, redemption or repurchase of the shares or securities.

The extent to which any relief is recovered depends on whether the disposal falls within the definition of a qualifying disposal.

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