Social Investment Tax Relief (SITR) was recently ranked 4th out of 46 in a Europe-wide study on the effectiveness of tax incentives to foster investment into SMEs and start-ups. It is also the only tax relief of all those reviewed that is specifically targetted at charities and social enterprises. So this is definitely something to celebrate!
We often get asked what the differences are between the various tax reliefs available to charities and social enterprises. This is why, together with Bates Wells Braithwaite (BWB), we are pleased to publish A Simple Guide to Tax Reliefs. As well as covering the relatively new Social Investment Tax Relief (SITR), it also covers SEIS, EIS, CITR, IFISAs and Gift Aid.
As part of our campaign to raise awareness about Social Investment Tax Relief (SITR), we teamed up with social enterprise Breadshare to show just how simple it is. If you don’t know about SITR or not sure how it works, Breadshare’s chief baker explains literally by using his loaf!
South Bristol Sports Centre is a charity created to serve and provide facilities for the local community. We pride ourselves on being able to provide activities and facilities which cater for a wide range of public need.
This week marks the second anniversary of the creation of Social Investment Tax Relief. Perhaps not an anniversary I ever saw myself marking in my diary. I have surprised myself at how captivating I have found this tax relief to be.
In the wake of so much negative press around tax dodges, how delightful to see this week’s announcement from South Bristol Sports Centre on the launch of their £1million sports scheme, £250k of which was raised using Social Investment Tax Relief.
Many ex-offenders are reconvicted within one year of release. There is plenty of research to say that many prisoners think having a job is a vital part of keeping them out of prison. The problem is finding employment on release can be difficult, particularly for those who were unemployed before they were convicted.