A new kind of tax is about: Social Investment Tax Relief. SITR is a tax relief designed to encourage people to invest in charities and social enterprises.
SITR can off 30% income tax relief to individuals. This relief is available for investments made on or after 6 April 2014. It applies from the point that you invested. In order for you to be eligible for the relief, you would need to have the investment for a minimum of three years. You must not own more than 30% or have a material interest from where you invest it.
You must not become an employee, trustee or director or invest in a social enterprise where you or your relatives have a direct relationship. The social enterprise will need to provide you with a compliance certificate in order for you to provide evidence for your entitlement to claim the relief.
You would need to be an individual that pay tax in the UK and you invest either directly or through a nominee fund.
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