HMRC update guidance on Community Investment Tax Relief scheme accreditation
Released 30 January 2019
HMRC have updated the list of accredited Community Development Finance Institutions (CDFIs) – institutions approved for the purposes of the Community Investment tax relief scheme.
Community Investment Tax Relief (CITR): accreditation of Community Development Finance Institutions provides guidance for bodies seeking accreditation under the Community Investment Tax Relief (CITR) scheme. The scheme encourages investment in disadvantaged communities by giving tax relief to investors who back businesses and other enterprises in disadvantaged areas through investing in accredited CDFIs. Relief under the CITR scheme is only available in respect of investments in those CDFIs (retail or wholesale) that have been ‘accredited’ by the Secretary of State. HMRC have released an updated version of the main guidance notes.
View the updated guidance at Community Investment Tax Relief (CITR): accreditation of Community Development Finance Institutions.