CITM1020 | Administration of the CITR Scheme

The administration of the CITR scheme is shared between HM Revenue & Customs and the Department for Business and Trade (DBT)

• DBT (CITM2010) is responsible for the accreditation of CDFIs, and for monitoring accredited CDFIs to ensure that they continue to meet the conditions of the scheme.

• HMRC is responsible for administering the tax relief available under the scheme, giving effect to any tax relief to which the investor may be eligible and, if necessary, withdrawing relief.

Ministers in Scotland, Wales and Northern Ireland have endorsed DBT’s role in managing the accreditation process. Their officials will assist their DBTcolleagues in reviewing the accreditation applications from CDFIs operating in their respective jurisdictions. And circumstances specific to the devolved administrations will be recognised by appropriate representation on the sub-group that reviews applications for accreditation (see CITM2010).