Number of organisations using social investment tax relief falls by a third
- On June 9, 2021
- By GrowthInvest Marketing
The number of organisations using social investment tax relief fell by a third in 2019/20, according to new figures.
The latest government data shows that in the year to the end of March 2020, 30 social enterprises received investment through SITR totalling £3.3m compared to 45 enterprises raising £4.7m in the previous year.
The scheme offers a 30 per cent tax break to people who invest in charities and social enterprises that meet certain criteria, such as having assets of less than £15m.
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