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Home / Simons-Taxes /Personal and employment tax /Part E3 Reliefs for investors /Division E3.9 Tax relief for social investments /Eligibility criteria for social investment relief / E3.906 Eligibility criteria for SI relief—the investor
Commentary

E3.906 Eligibility criteria for SI relief—the investor


Personal and employment tax

Note that this scheme closed to new investment from 6 April 2023 onwards.

Three restrictions apply to the investor and the investor's associates (see E3.902):

  1. Ìý

    •ÌýÌýÌýÌý restrictions relating to employment, partnership and directorship;

  2. Ìý

    •ÌýÌýÌýÌý restrictions on interest in the capital of the social enterprise; and

  3. Ìý

    •ÌýÌýÌýÌý a requirement that there be no collusion with a non-qualifying investor.

In addition, in relation to investments made on or after 6 April 2017 there is a requirement (the 'existing investments requirement') that the investor's existing holding in the social enterprise or a qualifying subsidiary be restricted risk finance investments or permitted subscriber shares.

Restrictions on employment, etc

During the longer applicable period (see E3.902) neither the investor nor any associate of the investor may be:

  1. Ìý

    •ÌýÌýÌýÌý an employee of the SE or of a partner of the SE, or of any 51% subsidiary1 of the SE, or of a partner in any such 51% subsidiary;

  2. Ìý

    •ÌýÌýÌýÌý a partner of the SE or a partner of

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