Social Investment Tax Relief
PhilHallAAT
Registered, Moderator Posts: 80 mod
in Tax
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:
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:
0
Comments
-
Very helpful. Thank you for this.2
-
Very interesting, wasn’t aware of this relief so good to know for clients in this space.0
-
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?0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 259 NEW! Qualifications 2022
- 146 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 37 AAT Level 3 Diploma in Accounting
- 64 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 137 Bookkeeping
- 7.3K General accounting discussion
- 193 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership