The above newly launched consultation looks further at the new social investment tax relief (SITR) which is available from 6 April 2014.

The government conducted a formal consultation in summer 2013 on the design of SITR, which informed SITR legislation published in draft in December 2013. A roadmap was then published in January 2014 setting out how it would address issues not covered in the draft legislation. Since then, the government has consulted members of this sector informally to determine the key issues that need to be addressed in this particular consultation.

This consultation covers:

• the maximum amount of money an investee organisation should be able to receive under the scheme, to inform the government’s case to the European Commission to increase the investment limit
• requirements for renewable energy and agriculture under an expanded scheme
• the types of social impact bond that an enlarged SITR should include
• options for providing for indirect investment via a separate legal entity

Views on design and implementation are invited by 18 September 2014. Thereafter the government intends to take into consideration all of the responses before making policy decisions. A summary of responses and draft legislation will be published in the autumn. Any legislation will be taken forward in a future Finance Bill.