Section 257SE — Income Tax Act 2007: Information to be provided by the investor

Information to be provided by the investor 257SE 1 This section applies if the investor has obtained SI relief in respect of the investment, and an event occurs as a result of which—

a the SI relief falls to be withdrawn or reduced by virtue of any of sections 257LD, 257LF, 257LG and 257LH, b the SI relief falls to be withdrawn or reduced under section 257Q (receipt of value), or would fall to be so withdrawn or reduced but for section 257QH (receipt of replacement value), or c the SI relief falls to be withdrawn or reduced under any of sections 257R, 257RB and 257RC (disposals and options).

2 The investor must within 60 days of coming to know of the event give a notice to an officer of Revenue and Customs containing particulars of the event.

3 If the investor—

a is required under this section to give notice of a receipt of value which is within section 257Q, or would be within that section but for section 257QH, and b has knowledge of any replacement value received (or expected to be received) because of a qualifying receipt, the notice must include particulars of that receipt (or expected receipt).

4 In subsection (3) “qualifying receipt” and “replacement value” are to be read in accordance with section 257QH.