Social investment tax relief extended
The social investment tax relief was due to close on 5 April 2021. However, following a government consultation it has been extended. What's happening with it?
Social investment tax relief (SITR) offers private investors an incentive to fund qualifying "social enterprises", either via a subscription for shares or by making a loan to the entity. A social enterprise is defined as any of the following:
- a community interest company;
- a community benefit society that is not a charity;
- a charity; or
- an accredited social impact contractor.
For SITR purposes, a charity can have the legal form of either a company or a trust.
The reliefs are broadly modelled on the Enterprise Investment Scheme, and were due to end after 5 April 2021. However, following consultation, the government has extended the end date to 5 April 2023 instead.
Guidance on the scheme is available here.
Related Topics
-
Electronic VAT return
-
MTD glitch risks confusion over 2025/26 payments on account
Some taxpayers testing Making Tax Digital for Income Tax (MTD IT) are seeing confusing and incomplete payment information because their data is split between HMRC’s digital and self assessment systems. What’s happened?
-
Employment Intermediaries return
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.