HMRC Draft legislation: Income Tax relief for social investments

31 January 2017

HMRC has published draft legislation for Finance Bill 2017 to enlarge the Social Investment Tax Relief (SITR) scheme with effect from 6 April 2017. The changes will include: an overall lifetime investment limit of £1.5m available to new businesses for seven years after  their first commercial sale; reduce to 250 the maximum number of employees for a qualifying business; extend the excluded activities list; and a number of other changes to ensure the new scheme is properly targeted. Comments on the draft legislation are invited by 23 February 2017.

Link to document



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