Limiting SEIR to £1m per investor is a lost opportunity, says Julie Morrison, tax partner at EY
19 March 2014
“With nearly 40% of social enterprises stating access to finance as their single biggest barrier to growth, the Social Enterprise Investment relief is to be welcomed. The 30% tax relief rate was also confirmed in line with similar investment incentives.
“However, the limit at £1m is an unnecessary restriction on an otherwise great initiative that could help to revolutionise investment in this growing sector.
“By removing or increasing the investment limit, the Government could have released the shackles on wealthy philanthropic investors to help further stimulate recovery and growth in this sector. Particularly given regulations will be put in place to determine what will be a qualifying investment.”
For more information on the 2014 Budget, visit the EY 2014 Budget page.