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Enlarging social investment tax relief: draft legislation

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HMRC has published draft legislation for Finance Bill 2017 to enlarge the social investment tax relief scheme with effect from 6 April 2017. The changes will include:

HMRC has published draft legislation for Finance Bill 2017 to enlarge the social investment tax relief scheme with effect from 6 April 2017. The changes will include:

  • an overall lifetime investment limit of £1.5m available to new businesses for seven years after their first commercial sale;
  • reducing to 250 the maximum number of employees for a qualifying business;
  • extending the excluded activities list; and
  • a number of other changes to ensure the new scheme is properly targeted.

Comments on the draft legislation are invited by 23 February 2017.

Issue: 1340
Categories: News
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