PARLIAMENTARY WRITTEN QUESTION
Tax Allowances: Social Enterprises (30 November 2016)

To ask Mr Chancellor of the Exchequer, what assessment he has made of the (a) annual cost to the public purse and (b) efficacy of the tax relief introduced under the Finance Act 2014 relating to investments in social enterprises.

Asked by:
Kirsty Blackman (Scottish National Party)

The Government announced the enlargement of Social Investment Tax Relief (SITR) at Autumn Statement 2016. By 2021-22, SITR is forecast to cost £65m per year. Further information can be found in the Tax Impact Information Note, available at https://www.gov.uk/government/collections/autumn-statement-2016-tax-related-documents

The Government will also review the design and operation of SITR within two years of its enlargement to ensure that it is being used as intended, that it supports social enterprises which would otherwise struggle to access finance, and that it delivers value for money.

Answered by:
Jane Ellison (Conservative)
5 December 2016