F3PART 5BTax relief for social investments

Annotations:
Amendments (Textual)
F3

Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1

CHAPTER 4Eligibility: conditions relating to the social enterprise

Conditions relating to the social enterpriseF2: general

Annotations:
Amendments (Textual)
F2

Word in s. 257M cross-heading inserted (with effect in accordance with Sch. 1 para. 14(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 1 para. 6(1)

257MIAF1The financial health requirement

1

The social enterprise must meet the financial health requirement at the beginning of the shorter applicable period.

2

The financial health requirement is that the social enterprise is not in difficulty.

3

The social enterprise is “in difficulty” if it is reasonable to assume that it would be regarded as a firm in difficulty for the purposes of the Community Guidelines on State Aid for Rescuing and Restructuring Firms in Difficulty (2004/C 244/02).