SITR review: looking at the headlines & not forgetting the impact
After spending time examining our open-source SITR Deals Database for the Government’s review of Social Investment Tax Relief, On-Purpose Associate Thomas Mackay picks out some of the headlines that helped to inform Big Society Capital’s response.
Onwards and upwards for SITR
All is not lost
Since the Government announced that Social Investment Tax Relief would be extended to 2023, we have been working to understand what the extension means in real terms.
SAVE SOCIAL INVESTMENT TAX RELIEF
The next five weeks are the most crucial in our on-going campaign to save Social Investment Tax Relief (SITR). Many brilliant organisations across the UK have used SITR to raise vital investment that is channelled into creating positive impact for local communities.
How SITR helped launch the UK’s first people owned national TV channel
Our campaign to save and improve Social Investment Tax Relief over the past six months has seen us spotlight many social enterprises and charities who have benefited from the flexible, patient and more affordable finance that SITR can offer to fund their plans to start-up, purchase an asset or scale-up.
Acquiring another social enterprise – can you benefit from SITR?
Six years on from when SITR was first introduced, we are still discovering new ways that Social Investment Tax Relief can help social enterprises and charities raise growth capital.
Finding the process of Claiming SITR Taxing? New step by step guides to simplify the process
Having run several webinars in collaboration with the Plunkett Foundation, Crowdfunder, Power to Change and the Community Shares Unit Scotland we kept hearing that one of the trickier parts of using SITR comes post investment. That is when it comes to actually claiming the relief.
Together with Mills & Reeve LLP, we are pleased to publish two new guides setting out the process for claiming the 30% income tax relief from HMRC once the SITR investment has been made.
Social enterprises and social investors come together to urge Government act now to extend SITR
The voluntary and social enterprise sector alongside the social investment sector have come together to urge Government to act now to extend SITR through the upcoming Finance Bill.
In a letter to the Treasury, they write that a short extension of the relief to April 2023 is critical for channelling capital to social enterprises and charities particularly as they will be first responders to the COVID-19 economic recovery.
Action needed now to extend Social Investment Tax Relief so it remains a valuable tool at this critical time
Social enterprises and charities are on the frontline responding to COVID-19 and they will be on the frontline to building back better in the aftermath. It's clear that far greater flows of private capital is needed to support their valuable work.
Big Society Capital's Chair, Harvey McGrath, explains why action is needed now to extend Social Investment Tax Relief (SITR) so that it remains a valuable tool in unlocking capital for social enterprises and charities.
Why SITR has been an invaluable tool to help East Learning CIC grow
For start-up social enterprises like East Learning CIC, Social Investment Tax Relief has been an invaluable tool to grow. However, due to a sunset clause in the legislation on the relief, it may be retired by Government in April 2021 unless action is taken now to prevent this. Find out more and how you can help.
Raising investment for a community business
Watch our webinar where you can hear from a panel of experts on how community businesses can use a mixture of finance including grant, donations, shares and loans to support their plans. You can also learn how Social Investment Tax Relief (SITR) can play a role in helping to maximise investment.
Coalition calls on Government to end uncertainty around Social Investment Tax Relief
A broad coalition of organisations from across civil society has written to HM Treasury calling for Government to make a firm commitment to SITR’s future in the upcoming Budget.
How SITR is helping one community open up their own arts hub
Find out how Social Investment Tax Relief (SITR) is helping one Community Benefit Society raise investment for a new community arts centre, the Wellington Orbit, and what it means for the local community.
Tackling homelessness with the help of coffee and SITR
Social entrepreneur Julius Ibrahim shares how Social Investment Tax Relief (SITR) helped him to get Second Shot Coffee off the ground.
SITR review: looking at the headlines & not forgetting the impact
After spending time examining our open-source SITR Deals Database for the Government’s review of Social Investment Tax Relief, On-Purpose Associate Thomas Mackay picks out some of the headlines that helped to inform Big Society Capital’s response.
Social Investment Tax Relief critical for social enterprises and charities, argues Big Society Capital
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.
SITR for the many, not the few
Tax reliefs are a vital government initiative to encourage investment into smaller companies that can deliver innovation and choice into our economy. Whilst the latest HMRC statistics are underwhelming, we see great potential for SITR as an enabler to grow social enterprises and charities.
SITR could be a game-changer for social enterprises like mine. But it needs to be simplified
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.
Social Impact Investing: View from an individual investor
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.
Social Investment Tax Relief: 3 actions we can take to unlock its potential
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.
Celebrating SITR as one of the most effective tax breaks in Europe
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!
Why understanding tax reliefs shouldn't be taxing...
Together with Bates Wells, 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.