Part 1 New Part 5B of ITA 2007
Finance Act 2014 (2014 c 26) | Legislation

SCHEDULE 11 Tax Relief for Social Investments

Section 57

Part 1 New Part 5B of ITA 2007

1

In ITA 2007, after Part 5A (seed enterprise investment scheme) insert—

“Part 5B
Tax Relief for Social Investments
Chapter 1
Introduction
257J Meaning of “SI relief†and “social enterpriseâ€

(1)     This Part provides for income tax relief for social investments (“SI reliefâ€), that is, entitlement to tax reductions in respect of amounts invested in social enterprises by individuals.

(2)     In this Part “social enterprise†means—

(a)     a community interest company,

(b)     a community benefit society (see section 257JB) that is not a charity,

(c)     a charity,

(d)     an accredited social impact contractor (see section 257JD), or

(e)     any other body prescribed, or of a description prescribed, by an order made by the Treasury.

(3)     An order under subsection (2)(e) may make provision as to the bodies which are social enterprises for the purposes of this Part at times before the order comes into force or FA 2014 is passed but, where a body is a social enterprise for the purposes of this Part as a result of an order under subsection (2)(e) that has come into force, no subsequent order

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Directors’ remuneration

Directors’ remunerationCompany directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their

LEXISNEXIS

In a business-to-business contract where a contractual long-stop date has passed but the parties wish to

In a business-to-business contract where a contractual long-stop date has passed but the parties wish to continue with the contract, should they document their intention to continue or enter into a new contract?Long-stop dateAs stated in the Drafting Notes to clause: Long-stop date definition, the

LEXISNEXIS

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent misrepresentation, unless the representor can prove they had reasonable grounds for believing the statement to be true. If the representor had reasonable grounds for believing the statement to be

LEXISNEXIS

Legal Services Board

Legal Services BoardThe Legal Services Board (LSB) is the single independent oversight regulator of the legal profession and sector in England and Wales. It does not directly regulate individual lawyers and, in most circumstances, will not directly regulate firms.Mandate and structureThe LSB is the