The government has published draft legislation and a policy paper on changes to social investment tax relief (SITR).
The Draft legislation: Income Tax relief for social investments makes a number of changes to SITR which apply to investments made on or after 6 April 2017. The changes include an increase in the amount of money newer social enterprises may raise from individual investors under the scheme, and provisions designed to better target the scheme on higher risk activities and deter abuse.
The policy paper Income Tax: enlarging Social Investment Tax Relief explains the changes in more detail.
The changes are:
Comments on the draft legislation are invited by 23 February – please send any comments to Sarah.email@example.com