As announced at Spring Budget 2023, the investment and lending limits for community development finance institutions (CDFIs) are to be extended for the purposes of community investment tax relief (CITR). The Community Investment Tax Relief (Amendment of Investment Limits) Regulations, SI 2023/518, increase the following with effect from 1 June 2023:
the amount of capital that accredited CDFIs can raise during each period of accreditation is increased from £10m to £25m for retail CDFIs, and from £20m to £100m for wholesale CDFIs; and
the limits for ‘relevant investments’ made by CDFIs are increased from £100,000 to £250,000 for investments in profit distributing enterprises, and from £250,000 to £375,000 for investments in non-profit distributing enterprises. These are the maximum amounts that CDFIs can lend to eligible businesses. The increases mean that CDFIs can invest larger amounts into individual eligible businesses.
As announced at Spring Budget 2023, the investment and lending limits for community development finance institutions (CDFIs) are to be extended for the purposes of community investment tax relief (CITR). The Community Investment Tax Relief (Amendment of Investment Limits) Regulations, SI 2023/518, increase the following with effect from 1 June 2023:
the amount of capital that accredited CDFIs can raise during each period of accreditation is increased from £10m to £25m for retail CDFIs, and from £20m to £100m for wholesale CDFIs; and
the limits for ‘relevant investments’ made by CDFIs are increased from £100,000 to £250,000 for investments in profit distributing enterprises, and from £250,000 to £375,000 for investments in non-profit distributing enterprises. These are the maximum amounts that CDFIs can lend to eligible businesses. The increases mean that CDFIs can invest larger amounts into individual eligible businesses.
