Introduction Overview Overview Section 252: Effect of receipt of value on future claims
892.This section applies if an investor holding securities or shares receives value (other than an amount of insignificant value) but, because that value is less than the permitted level, the CITR attributable to those securities or shares is not withdrawn under section 247. It is based on paragraph 38 of Schedule 16 to FA 2002.
893.Subsection (2) reduces the amount invested (see section 222) in respect of which CITR may be claimed for the accounting periods specified in subsection (3).
894.Subsection (5) is new. It provides that this section is subject to section 251 which modifies the effect of this section and of sections 246, 247 and 248.
895.Sections 246(7) and 247(5) already provide that those sections are subject to section 251. Subsection (5) of this section and new subsection (8) of section 248 (see the commentary on that section) have been added to ensure consistency.