Social Enterprises: Tax Allowances

(asked on 12th October 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with the Secretary of State for Work and Pensions on the effectiveness of Social Investment Tax Relief in creating employment in the most deprived areas.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 16th October 2020

The Social Investment Tax Relief (SITR) is intended to address a specific access to finance market failure for social enterprises by incentivising individuals to invest in these ventures.

The scheme is intended to support a broad range of social enterprises, with a variety of social missions and community benefits. SITR is not designed directly to encourage employment or to support particular geographical areas: qualifying social enterprises are free to use SITR wherever they are in the country in whatever way they determine is best for their growth and development.

The Government committed to a full review of SITR within two years of its expansion, and published a Call for Evidence last year on the use of the scheme to date. A Summary of Responses will be published in due course alongside a decision on the policy’s future.

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