- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)This section applies if the investment consists of securities or shares and—
(a)the investor receives any value (other than an amount of insignificant value) from the CDFI during the 6 year period,
(b)the investment or a part of it is held by the investor at the time the value is received and has been held by the investor, as sole beneficial owner, continuously since the investment was made (“the continuing investment”),
(c)the receipt is wholly or partly in excess of the permitted level of receipts in respect of the continuing investment, and
(d)the amount of that excess (“the excess”) is not an amount of insignificant value.
(2)Any CITR attributable to the continuing investment in respect of any tax year must be withdrawn.
(3)For the purposes of subsection (1) the permitted level of receipts is exceeded if—
(a)any amount of value is received by the investor (ignoring any amounts of insignificant value) in the first 3 years of the 6 year period, or
(b)the total amount of value received by the investor (ignoring any amounts of insignificant value)—
(i)before the beginning of the fifth year of that period, exceeds 25% of the invested capital,
(ii)before the beginning of the final year of that period, exceeds 50% of the invested capital, or
(iii)before the end of that period, exceeds 75% of the invested capital.
(4)In this section—
“the invested capital”, in relation to the continuing investment, means the amount subscribed for the securities or shares concerned, and
“an amount of insignificant value” means an amount of value which—
is not more than £1,000, or
if it is more than £1,000, is insignificant in relation to the amount subscribed by the investor for the securities or shares included in the continuing investment.
(5)This section is subject to section 368 (value received if there is more than one investment).
(6)Value received is ignored, for the purposes of this section, so far as CITR attributable to any loan, securities or shares in respect of any one or more tax years has already been reduced or withdrawn on its account.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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