Social Investment Tax Relief extended
Social Investment Tax Relief (SITR), is a venture capital scheme that allows investors to make tax efficient equity and loan investments into social businesses and charities. Previously set to close in April 2021, this has been extended for a further two years to April 2023. SITR has been criticised in the past for having a low uptake, but with the impact of Brexit potentially removing the limitations of European State Aid rules on this scheme, SITR could be a substantial opportunity for charities and social enterprises in the coming two years.
Like the new public funding measures, finding a loan investor able to take advantage of SITR could provide your charity with a cash-flow advantage, allowing you to tread the road to recovery in a stronger financial position.
If you’re interested in finding out more about how the Social Investment Tax Relief scheme could benefit you, read our more detailed insight.
Read more about Social Investment Tax Relief