Social investment tax relief extended
The social investment tax relief was due to close on 5 April 2021. However, following a government consultation it has been extended. What's happening with it?
-
Free childcare for company owners?
You’re an owner manager and your daughter is due to start nursery. You understand that working parents can get free childcare but a friend said this isn’t available if you only pay yourself dividends. Is this true and what can you do to qualify?
-
CT61
-
Getting the NI on benefits right
Getting the National Insurance (NI) treatment of employee benefits wrong remains a common issue for employers, particularly where the benefits are payrolled. Errors can lead to underpaid NI and potential compliance action. What should you check?
Social investment tax relief (SITR) offers private investors an incentive to fund qualifying "social enterprises", either via a subscription for shares or by making a loan to the entity. A social enterprise is defined as any of the following:
- a community interest company;
- a community benefit society that is not a charity;
- a charity; or
- an accredited social impact contractor.
For SITR purposes, a charity can have the legal form of either a company or a trust.
The reliefs are broadly modelled on the Enterprise Investment Scheme, and were due to end after 5 April 2021. However, following consultation, the government has extended the end date to 5 April 2023 instead.
Guidance on the scheme is available here.
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.