Consultation on social investment tax relief
The government has opened a consultation inviting comments on the introduction of social investment tax relief
At Budget 2013 the government announced that it would introduce a new tax relief for private investment in social enterprise from 2014, and would consult on the detail by summer 2013. The government’s aim in introducing this new tax relief is to complement other government initiatives in encouraging private investment in social enterprise and helping it to become self-sustaining in the long term.
The Prime Minister launched the consultation on 6 June 2013 at the G8 Social Impact Investment Forum in London.
Working groupThe government has established a working group to complement wider consultation on the new tax relief and to discuss options and proposals in more detail.
Membership of the working group, the terms of reference, and a summary note of group discussions can be found below.
Members of the social investment tax relief consultation working group- Paul Bater, Institute of Chartered Accountants
- Stephen Bristow, British Film Institute
- Sir Stephen Bubb, Social Investment Business
- Charlotte Chung, Social Enterprise UK
- Prof Simon Denny, Northampton Business School, University of Northampton
- Lucy Findlay, Social Enterprise Mark
- Luke Fletcher, Bates Wells Braithwaites
- Gavin Francis, Worthstone
- Tom Hall, Scope
- Heidi Harris, Harris & Harris Accountancy Services Community Interest Company
- Helen Heap, Private consultant
- John Hemming, Charity Tax Group
- Katie Hill, City of London Corporation
- Doug Hull, Charity Finance Group
- John Kingston
- Vaughan Lindsay, Dartington Hall Trust
- John Mulkerrin, Community Interest Company Association
- Neil Pearson, Wragge & Co
- Charlotte Ravenscroft, National Council for Voluntary Organisations
- Simon Rowell, Big Society Capital
- Antony Timmins, Price Waterhouse Coopers
- Annika Tverin, Social Finance
Views on the proposed design options for this relief are invited from a wide range of sources including individuals, organisations, and representative and professional bodies. The government especially invites comments from those directly involved in investing in, or seeking investment for, social enterprises.