Over 30,000 social enterprises and charities could benefit from Social Investment Tax Relief (SITR), suggesting vast untapped potential, according to research undertaken by Big Society Capital, and backed by the Department for Culture, Media and Sport.
Action Homeless CEO Mark Grant writes why he believes simplifying Social Investment Tax Relief (SITR) could be a game-changer that would allow them to raise flexible, patient and risk-tolerant capital, which they could use to provide more affordable housing to people affected by homelessness.
Outside the social impact investing world, what motivates someone to become an investor into social enterprises? Dr Thelma Lovick, a professor and research fellow at University of Bristol writes about what attracted her to social impact investing. She also offers her perspective for those interested in following her example.
As the recent review of Social Investment Tax Relief (‘What a Relief!’) outlines, there have been challenges to SITR reaching its potential. Here, we look at three actions we can take to help unlock it.
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!