Social Impact Tax Relief (SITR)

“Doing well by doing good” is a phrase today’s investors hear more each year. The argument goes that investing can have a social impact in addition to generating profits. Its proponents say that investors should focus on investments that not only affect their bottom lines, but also promote socially conscious goals. Additionally, many socially conscious companies face a lack of access to capital. In 2014 the UK government created the Social Investment Tax Relief (SITR) scheme, which encourages socially conscious investing through 30% income tax relief. Individuals must hold SITR investments for a minimum of three years, giving investee companies… continue reading