Section 242 — Corporation Tax Act 2010: Introduction to Chapter

Introduction to Chapter 242 1 This Chapter provides for CITR to be withdrawn or reduced under—

a section 243 (disposal of loan during 5 year period),

b section 244 (disposal of securities or shares during 5 year period),

c section 245 (repayment of loan capital during 5 year period),

d section 246 (value received by investor during 6 year period: loans),

e section 247 (value received by investor during 6 year period: securities or shares),

f section 254 (CITR subsequently found not to have been due).

2 This Chapter also provides for the manner in which CITR is to be withdrawn or reduced (see section 255).

3 In this Chapter “ the 6 year period ” in relation to the investment is the period of 6 years beginning 12 months before the investment date.