Carolyn Steppler and Neil Morgan (EY) provide your guide to the operation of the new relief
his year’s Finance Act (s 27 Schs 11 and 12) introduces income and capital gains tax reliefs (social investment tax relief or SITR) for individuals which the government hopes will give investors an incentive to provide finance to qualifying social enterprises.
For an investment to qualify for SITR there are conditions that must be met by both the investor and the social enterprise. Investments may be in shares or by way of certain types of debt and the tax reliefs will be available in respect of investments made on or after 6 April 2014 with the scheme being introduced with a five-year ‘shelf life’.
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Carolyn Steppler and Neil Morgan (EY) provide your guide to the operation of the new relief
his year’s Finance Act (s 27 Schs 11 and 12) introduces income and capital gains tax reliefs (social investment tax relief or SITR) for individuals which the government hopes will give investors an incentive to provide finance to qualifying social enterprises.
For an investment to qualify for SITR there are conditions that must be met by both the investor and the social enterprise. Investments may be in shares or by way of certain types of debt and the tax reliefs will be available in respect of investments made on or after 6 April 2014 with the scheme being introduced with a five-year ‘shelf life’.
ome of...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
