Social investment tax relief guidance unveiled

HMRC has published guidance on the new Social Investment Tax Relief, which came into effect on 6 April 2014. This replaces the draft guidance published with the Finance Bill in March 2014. 

A social enterprise is a commercial business that helps people or communities. SITR is the tax relief that investors can claim in respect of investments they have made in social enterprises. Tax relief is available for investments made on or after 6 April 2014 and can be given to the investor, only if certain conditions are met. The guidance sets out the conditions affecting social enterprises and the nature of the investment. The conditions affecting investors are also set out.