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Big Issue chairman: "Social enterprise investors need tax breaks too"

by Kate Pritchard - Thursday, 31st July 2008 - (1) comment

Big Issue chairman: "Social enterprise investors need tax breaks too"

Investors in charities are eligible for gift aid. Investors in SMEs can take advantage of enterprise investment scheme income tax, capital gains relief and venture capital trust income tax relief. So why on earth don't investors in social enterprises receive tax breaks too, asks Big Issue chairman Nigel Kershaw.

"The government doesn't reward investors for taking risks in investing in social enterprises," says Kershaw. "We're missing out."

The Big Issue chairman has thrown down the challenge to the Treasury. "Offering the same tax incentives to investors in social enterprises is the single most important issue for government to be working on if it truly wants to support and grow social enterprises," he says.

"I'm not asking for any special favours. I'm just asking for a level playing field that will let social enterprises prove that we can deliver financial and social returns.”

Kershaw would like the Treasury to make EIS and VCT more readily available for social enterprises.

"A lot of investors say they want to invest in a good business with a social return but their second question often is: 'what tax breaks can I get?'"

Picture source

1 Comments

August 01, 2008 10:41am
Dan Martin, BusinessZone.co.uk Says:

I'm a huge fan of social enterprises and have seen Nigel Kershaw making the demand for tax breaks at several conferences. He is a fantastic spokesperson for the sector and I couldn't agree with him more. I recently spoke to a successful social entrepreneur who also complained about the investment issue. She set up a community interest company a few years ago which is doing fantastic work but has struggled to find investors because of the dividend lock. I know the government is reviewing it but like Jonathan Bland, CEO of the Social Enterprise Coalition, has said on several occasions ministers should be doing so much more to promote the sector as a whole. Dan Martin, editor, www.BusinessZone.co.uk

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