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Community Investment Tax Relief Certificate
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This form is designed to be filled in on screen. You must answer all the questions except those marked 'optional'. You can’t save the form but once you’ve completed it you’ll be able to print a copy and post it.
Tax Relief Certificate: Paragraph 12, Schedule 16, Finance Act 2002 and Section 348 Income Tax Act 2007 This Certificate is for issue by an accredited Community Development Finance Institution (CDFI) to an investor in that CDFI in accordance with Schedule 16, Finance Act 2002 or Section 348 Income Tax Act 2007 (Community Investment Tax Relief). This Certificate should be signed by an authorised representative of the CDFI in which the investment is made. Notes for CDFI 1 This Certificate is issued in accordance with Schedule 16, Finance Act 2002 or Part 7 Income Tax Act 2007 (Community Investment Tax Relief). 'Investment' and 'accredited' take their meaning from that legislation. 2 A body that issues this Certificate carelessly or deliberately is liable to a penalty of up to £3,000. Notes for investors 1 This Certificate should be kept by the investor, who may be asked to produce it in support of a claim for relief. 2 Before making any claim to CITR, investors should be satisfied that they are eligible for the tax relief. For further details see page CITM9900 (CITR: A brief guide for investors) of the Community Investment Tax Manual. For more information follow the link below.
3 Although an individual or company may be eligible for relief under the CITR scheme for up to five tax years or accounting periods, only one tax relief Certificate is issued in respect of each investment. A separate claim must be submitted for each tax year or accounting period for which relief is claimed. 4 A claim to tax relief should normally be made on the investor's Tax Return. If an investor wants to claim relief for a tax year or accounting period for which a Tax Return has already been submitted the investor should ask for advice on how to do so from the HMRC office to which the Tax Return was sent. 5 If the investment to which this Certificate relates was made in the current tax year and an investor who is an individual pays tax under PAYE, the investor can ask the HMRC office dealing with their tax affairs to effect relief through adjustment of their PAYE code number. 6 Help Sheet 237 Community Investment Tax Relief explains how individuals can claim tax relief under the scheme. For more information follow the link below.