Have you run a Community Share Offer where your investors benefitted from Social Investment Tax Relief (SITR)? Are you planning to?
Act now to save it – or it will go by April. A decision is expected in March so time is tight.
Social Investment Tax Relief (SITR) is a tax incentive for individuals making an investment into an eligible charity or social enterprise – includes Community Benefit Societies running community share offers. Investors can claim back 30% of their investment from HMRC which of course encourages them to invest more into their community.
Co-operatives UK have set out simple steps you can take to save SITR.
Please ask your MP to contact the Chancellor of the Exchequer, Rishi Sunak, and Financial Secretary to the Treasury, Jesse Norman, to press the importance of extending SITR!
- Download a template letter to send to your MP – on behalf of a society or as an individual.
- Search for your MP and find their email address at www.writetothem.com, which will make the process easier.
- If you do receive a response, please forward it on to email@example.com, Programme Manager Community Shares Standards at Co‑operatives UK.