Note that this scheme closed to new investment from 6 April 2023 onwards.
Each of the conditions relating to the eligibility of the social enterprise is described below.
Continuous social enterprise status
The SE must be a social enterprise throughout the shorter applicable period1.
Restriction on amount raised—rules prior to 6 April 2017
There is a restriction on the amount that may be raised through investments eligible for SI relief2. This is driven by the need to comply with European rules concerning de minimis state aid3, which must not exceed €200,000 in any three year period. Since it is not possible to determine the amount of relief that will be claimed at the time of the investment, the limit assumes maximum relief from capital gains tax and income tax. The limit applies to an 'aid period', which is the three years ending with the day the investment is made. It is given by the formula:
T is the total of prior scheme investments in the
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 17:46