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Legislation
Corporation Tax Act 2010

Chapter 3 General conditions

  • Section 231 No control of CDFI by investor
  • Section 232 Investor must have beneficial ownership
  • Section 233 Investor must not be accredited
  • Section 234 No acquisition of share in partnership
  • Section 235 No tax avoidance purpose
  1. Chapter 3 · General conditions
  2. No acquisition of share in partnership

Section 234 | No acquisition of share in partnership

From legislation.gov.uk

(1)If the CDFI is a partnership, the investment must not consist of or include any amount of capital contributed by the investor on becoming a member of the partnership.

(2)For this purpose the amount of capital contributed by the investor on becoming a member of the partnership includes any amount which—

(a)purports to be provided by the investor by way of loan capital, and

(b)is accounted for as partners' capital in the accounts of the partnership.

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