SolvedCITM5005 | General conditions applying to investors and investments: Outline
From HM Revenue & Customs · Community investment tax relief manual
The CITR scheme imposes a number of general conditions that must be satisfied by investors and investments. These conditions are that:
| CITM5010 | the investor must not control the community development finance institution (CDFI) |
|---|---|
| CITM5020 | the investor must beneficially own the investment |
| CITM5030 | the investor must not be an accredited CDFI |
| CITM5040 | where the CDFI is constituted as a partnership, the investment must not consist of capital contributed by the investors on becoming members of the CDFI, and |
| CITM5050 | the investment must not be part of a tax avoidance scheme |