[ˈsəʊʃəl ɪnˈvɛstmənt tæks rɪˈliːf (ɛs-aɪ-tiː-ɑː)]
Social Investment Tax Relief (SITR) was a scheme that gave tax relief on investments in charities and social enterprises made on or before 5th April 2023.
Social Investment Tax Relief (SITR) was a scheme introduced by the UK government in 2014 that encouraged individuals to invest in charities and social enterprises by providing tax relief on their investments.
For investments made on or before 5th April 2023, individuals could receive 30% Income Tax relief, 0% Capital Gains tax on shares, 100% Capital Loss relief on shares, and 100% Inheritance Tax free if shares were held for more than two years.
An individual could invest up to £1 million and there was no minimum investment. It provided a great Tax-efficient way of investing in positive projects.
January 31st is the deadline for submitting 2022/23 tax returns. It's a good idea to complete your tax return ahead of this deadline to avoid mistakes and potential penalties. This article shows why its a good idea to submit your tax return early and how Earnr can help you if you are stuck.
Read more.webp)
We recently introduced our newest addition to the Earnr team; our AI chat bot, Earnr AI. In this article we put Earnr AI to the test and asked it why you should use Earnr as your tax companion, bookkeeping tool and tax return assistant. Read it's excellent response!
Read more
The festive period is often thought of as the busiest time of the year with the run up to Christmas and New Year. Whilst this period can feel hectic at times, it can also be seen as the perfect time to complete your tax return. In this article we explain why this Christmas time is the best time to submit your 22/23 tax return.
Read more