SCHEDULES
SCHEDULE 16Community investment tax relief
Part 5Form of relief
I124Loss of accreditation by the CDFI
1
Where the CDFI ceases to be accredited under Part 2 with effect from a time (“the relevant time”) within the five year period, no claim for relief relating to the investment may be made by the investor—
a
for the relevant tax year or accounting period, or
b
for any later tax year or accounting period.
2
For the purposes of sub-paragraph (1) the relevant tax year or accounting period is—
a
where the relevant time falls within the first year of the five year period, the tax year or accounting period in which the investment date fell, and
b
in any other case, the year or period in which fell the last anniversary of that date before the relevant time (or, if the relevant time itself falls on an anniversary of the investment date, the year or period in which that anniversary falls).