HMRC has published new guidance on social investment tax relief (SITR) scheme. This is designed to help raise money to support the trading activity of a social enterprise or charity by offering investors tax relief on their investment if qualifying conditions are met.
The scheme can be applied for by:
a community interest company
a community benefit society, with an asset lock, or
a charity, which can be a company or a trust.
The scheme is sometimes used by communities looking to take over the management of a local heritage asset.