The Social Investment Tax Relief (SITR) was introduced in 2014 to incentivise risk finance investments in qualifying social enterprises and charities. HMRC statistics show that up to 2018-19, about 110 enterprises have used the scheme to raise £11.2 million.
The Government keeps all taxes and reliefs under review in order to ensure they continue to meet policy objectives and represent value for money for taxpayers. The Government previously published a Call for Evidence in 2019 on SITR’s use to date. A response to the consultation will be published in due course and a decision on SITR’s future will be announced at the Budget ahead of its sunset clause in April 2021.