The social investment tax relief meets bemused enthusiasm
The government is pressing ahead with the proposals announced last year to provide tax incentives for investment in qualifying social enterprises. In certain circumstances capital gains will be able to be deferred with qualifying investments; capital gains arising on disposals of these investments will be tax free; and income tax relief will be available at 30 per cent of the amount invested.
The new rules came into effect from 6 April 2014 and draft guidance was published on 27 March. The aim of the relief is to boost investment in philanthropic ventures, providing much-needed financial support to eligible organisations, and provide a useful tax saving for the donor.
Related in brief posts
As Kids Company demonstrates, trusteeship is a role that comes with significant duties as well as rewards, writes Jennifer Emms.
Where there's a Will, there's a way....to save potentially invalid charitable bequests.
This, the second part of a two-part article on the operation of charities by Jennifer Emms and Sophie Wettern, discusses the duties of the charitable trustee.