This is our response to HM Treasury’s review of Social Investment Tax Relief (SITR): a tax break for individual investors making investments into charities and social enterprises. The uptake of SITR since 2014 has been significantly lower than expected and we welcome the Treasury opening a consultation on SITR to ensure that the tax relief is fit for purpose.
In our response we make a series of recommendations that will enhance and improve SITR. We emphasise that restrictions on eligibility bought in by the Government in 2017 have resulted in the low take up as it precludes specific business activities that social sector organisations would be most likely to seek investment for.
For more information on SITR, read our 2018 report What a Relief! .