Social Enterprises: Tax Allowances

(asked on 27th January 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of a reformed Social Investment Tax Relief to support the Government’s policy of levelling up; and if he will make a statement.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 1st February 2021

The Social Investment Tax Relief (SITR) was introduced in 2014 to incentivise risk finance investments in qualifying social enterprises and charities. HMRC statistics show that up to 2018-19, about 110 enterprises have used the scheme to raise £11.2 million.

The Government keeps all taxes and reliefs under review in order to ensure they continue to meet policy objectives and represent value for money for taxpayers. The Government previously published a Call for Evidence on SITR’s use to date. A response to the consultation will be published in due course and a decision on SITR’s future will be announced at the Budget ahead of its sunset clause in April 2021.

Reticulating Splines