The Community Investment Tax Relief (Accreditation of Community Development Finance Institutions) (Amendment) Regulations 2008
Schedules 16 and 17 to the Finance Act 2002 (c. 23) and sections 340 and 341 of the Income Tax Act 2007 (c. 3: “ITA”) provide for tax relief for investments made by individuals and companies in bodies which are accredited as community development finance institutions (“CDFIs”). The relief is called community investment tax relief. CDFIs are bodies which invest in enterprises for disadvantaged communities.