Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether those inspecting social investment tax relief advanced assurance applications in his Department are conducting their inspections in line with the current law on social investment tax relief.
HM Revenue and Customs (HMRC) administers the social investment tax relief (SITR) scheme and applies the current law when considering applications from social enterprises. HMRC does not provide its opinion on non-statutory pre-clearance applications (advance assurances) where there will be, or may be, a rule change that would affect the eligibility of a proposed investment. Investors are able to make such investments without an advance assurance.