HMRC has published draft legislation for Finance Bill 2017 to enlarge the social investment tax relief scheme with effect from 6 April 2017. The changes will include:
an overall lifetime investment limit of £1.5m available to new businesses for seven years after their first commercial sale;
reducing to 250 the maximum number of employees for a qualifying business;
extending the excluded activities list; and
a number of other changes to ensure the new scheme is properly targeted.
Comments on the draft legislation are invited by 23 February 2017.
HMRC has published draft legislation for Finance Bill 2017 to enlarge the social investment tax relief scheme with effect from 6 April 2017. The changes will include:
an overall lifetime investment limit of £1.5m available to new businesses for seven years after their first commercial sale;
reducing to 250 the maximum number of employees for a qualifying business;
extending the excluded activities list; and
a number of other changes to ensure the new scheme is properly targeted.
Comments on the draft legislation are invited by 23 February 2017.
