Social Investment Tax Relief

11th December 2013

Today the details of the social investment tax relief are published in the government’s response to consultation.   The draft legislative provisions designed to implement them and explanatory notes on the draft legislation are also published.    The rate of income tax relief will be announced at Budget 2014.

The relief will apply to investment in charities, community interest companies (CICs) and community benefit companies (bencoms).   It will also apply to investment in social impact bonds where the special purpose vehicle is a company limited by shares and accredited by a Government-run accreditation scheme.   Cooperatives that can fulfil the conditions for demonstrating a community purpose would be able apply to the Financial Conduct Authority to be registered as a bencom at no extra cost and thus become eligible.

The Government’s consultation response is published at https://www.gov.uk/government/consultations/consultation-on-social-investment-tax-relief

Details of the draft legislation can be found at https://www.gov.uk/government/collections/finance-bill-2014.

If you have any questions please contact rob.parker@cabinet-office.gsi.gov.uk.

Send us your news & events

The Doncaster Community and Social Enterprise Partnership is an active focal point for anyone interested in social enterprise to share news, information and good practice. Doncaster CSEP aims to provide a voice for its membership and works to raise the profile potential of social enterprises and the social economy in Doncaster.

©2017 Doncaster Community and Social Enterprise Partnership