There are four types of venture capital scheme. SITR (the social investment tax relief scheme) is one these. It is designed to attract investors to socially responsible enterprise by offering investors tax relief on the shares they invest in. The relief stays in place for 3 years provided the scheme sticks with its socially responsible pathway.
That said, SITR was due to end in April 2021 and as part of Tax Day consultations, the Treasury is looking at whether the scheme should continue for another two years to help firms and the sector in socially responsible, environmentally friendly, community based projects and charitable operations grow.
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