Corporation Tax Act 2010 section 267

Construction of references to being "held continuously"

Section 267 explains how to determine whether an investor has held a qualifying investment continuously throughout a required period for the purposes of Community Investment Tax Relief.

• This section applies whenever it is necessary to check whether an investment has been held continuously over a specified period.
• An investment is not treated as held continuously if the investor is deemed under the Taxation of Chargeable Gains Act 1992 to have disposed of and immediately reacquired it at any point during the period.
• An investment is also not treated as held continuously if the investor is treated as having disposed of it under section 266(2) at any time during the period.
• This provision is relevant to several other sections within this Part that require continuous holding, such as sections 247 and 252.