F1PART 5BTax relief for social investments
CHAPTER 1Introduction
257JMeaning of “SI relief” and “social enterprise”
(1)
This Part provides for income tax relief for social investments (“SI relief”), that is, entitlement to tax reductions in respect of amounts invested in social enterprises by individuals.
(2)
In this Part “social enterprise” means—
(a)
a community interest company,
(b)
a community benefit society (see section 257JB) that is not a charity,
(c)
a charity,
(d)
an accredited social impact contractor (see section 257JD), or
(e)
any other body prescribed, or of a description prescribed, by an order made by the Treasury.
(3)
An order under subsection (2)(e) may make provision as to the bodies which are social enterprises for the purposes of this Part at times before the order comes into force or FA 2014 is passed but, where a body is a social enterprise for the purposes of this Part as a result of an order under subsection (2)(e) that has come into force, no subsequent order under subsection (2)(e) may undo that result in respect of times before the subsequent order comes into force.