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Social Investment Tax Relief

PhilHallAATPhilHallAAT Registered, Moderator, Staff Posts: 46
Social Investment Tax Relief (SITR) encourages individuals to support social enterprises and helps them access new sources of finance.

Those who make an eligible investment of up to £1.5m can deduct 30% of the cost from their income tax liability, either for the tax year in which the investment is made or the previous tax year.

The investment must be held for a minimum period of 3 years to benefit from the relief.

There is very little awareness or understanding of the little used relief and the Government has just finished consulting on whether or not to keep it.

To find out more about how you and/or your clients might benefit from SITR, you can read a July 2019 AAT Comment article about the relief here:



Comments

  • accountaholicsaccountaholics Registered Posts: 10
    Very helpful. Thank you for this.
    PhilHallAATMrColeman
  • MrColemanMrColeman Registered Posts: 8
    Very interesting, wasn’t aware of this relief so good to know for clients in this space.
  • highlandspringhighlandspring Registered Posts: 6
    Interesting - I am familar with EIS and SEIS which seem to operate in a similar way but not even heard of this one, I wonder how many social enterprises are actually aware of it themselves?
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