Finance Bill 2014 included proposed legislation for social investment tax relief, a relief available to investors in social enterprises from 6 April 2014. Tim Smith and Richard Wilson take a look.
Finance Bill 2014 includes proposed legislation for social investment tax relief (SITR). But how does this opportunity compare with the enterprise investment scheme (EIS) and the seed enterprise investment scheme (SEIS)?
In many situations a social enterprise may be able to qualify for either SITR or investment under the existing EIS and SEIS. We have experience of social enterprises claiming EIS relief and SEIS relief in relation to community energy and community broadband projects.
The SEIS offers a higher 50% income tax relief and exempts from tax 50% of capital gains reinvested under the provisions...
