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Written question asked by Jane Hunt (Conservative) on Wednesday, 1 December 2021, in the House of Commons. It was due for an answer on Monday, 6 December 2021 (named day). It was answered by Lucy Frazer (Conservative) on Monday, 6 December 2021 on behalf of the Treasury.

Social Enterprises: Tax Allowances

Question

To ask the Chancellor of the Exchequer, how much Social Investment Tax Relief was claimed by investors of Social Impact Bonds in each successive tax year since that relief was introduced.

Answer

The information is not available as investors claiming Social Investment Tax Relief (SITR) are not required to inform HMRC whether they have invested in Social Impact Bonds. HMRC publishes National Statistics annually which break down total investment into SITR companies by tax year, as shown below.

Tax Year

Amount raised by SITR enterprises (£ million)

2014-15

0.5

2015-16

2.3

2016-17

2.5

2017-18

2.5

2018-19 [p]

4.7

2019-20 [p]

3.3

Total

15.8

‘p’ denotes a provisional estimate

HMRC’s National Statistics on SITR can be found at the following link:

https://www.gov.uk/government/statistics/enterprise-investment-scheme-seed-enterprise-investment-scheme-and-social-investment-tax-relief-may-2021

Secondary information

Type
Written question
Reference
85403
Session
2021-22
Subjects
Tax allowances Social enterprises Social outcomes partnerships
Contains statistics
Yes
Link
View this Written question on www.parliament.uk