SolvedCITM3040 | Investment by community development finance institutions (CDFIs): Investments which are not relevant investments
From HM Revenue & Customs · Community investment tax relief manual
SI2003/96 Schedule 1
Accreditation as a CDFI is conditional on the accredited body investing specified proportions of its investment fund within defined time limits in relevant investments in qualifying enterprises (see CITM3005).
The meaning of relevant investments is described at CITM3030.
But certain kinds of investment are specifically excluded from being relevant investments. These excluded investments are listed at SI2003/96 Schedule 1 and fall into the following categories.
| CITM3050 | investments that are protected by publicly-funded guarantees |
|---|---|
| CITM3060 | certain loans to profit-distributing enterprises |
| CITM3065 | equity investments in profit-distributing enterprises |
| CITM3070 | certain investments in non-profit-distributing enterprises |
| CITM3020 | excessive investment in enterprises within Case 2 of SI2003/96 Regulation 10 |
| CITM3080 | investments that exceed 20% of the CDFI’s investment fund |
| CITM3090 | investments in properties |
| CITM3092 | certain investments in property |
| CITM3100 | excessive investment by retail CDFIs in other CDFIs or similar bodies |
| CITM3110 | excessive investment by wholesale CDFIs in other CDFIs or similar bodies |