Interesting news as UK quango seeks to take advantage of the skewed UK tax approach to investment….sensibly enough whole the UK Social Stock Exchange looks for international business.
Big Society Capital Calls For Tax Support On Social Impact Bonds
ipe.com
UK – Social investment bank Big Society Capital has called for more government support to social investments.
In a response to the UK government’s proposals for social investment tax relief, it said the government should ensure simple investment products are eligible, including unsecured loans, and increase the size of eligible investment into social sector organisations.
It also argued that the government should extend the range of permitted indirect investment schemes to include venture capital trust-like schemes and permit investment into SIBs.
Big Society Capital believes the scope of the tax relief should not be narrowly focused but relevant to a wide range of social sector organisations and social investment products and tailored to the products in the greatest need by social sector organisations.
The government proposals would exclude tax relief for SIBs, just at a point where the opportunity exists to stimulate a market that is starting to show success, Big Society Capital said.
To date, 14 SIBs have been issued in the UK, with the potential for many more in the near future, it added.
UK’s Social Stock Exchange Set To Include International Members (subscription)
Financial Times
The Social Stock Exchange, which admits only those London-listed companies that pass an independent assessment of their social and environmental contribution, said it is in talks with several overseas companies about joining its platform