F1PART 5BTax relief for social investments
CHAPTER 7Withdrawal or reduction of SI relief
Miscellaneous
257QSRelief subsequently found not to have been due
1
Any SI relief obtained by the investor which is subsequently found not to have been due must be withdrawn.
2
SI relief obtained by the investor in respect of the investment may not be withdrawn on the ground that the requirements of Chapter 4 are not met unless the requirements of subsection (3) are met.
3
The requirements of this subsection are met if either—
a
the social enterprise has given notice under section 257SF in relation to the investment (information to be provided by the social enterprise etc), or
b
an officer of Revenue and Customs has given notice to the social enterprise stating the officer's opinion that, because of the ground in question, the whole or any part of the SI relief attributable to the investment (whether alone or with other SI relief) was not due.
Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1