Income Tax Act 2007 section 257P

Time for making claims for SI relief

Section 257P sets out the time limits within which an investor must make a claim for Social Investment (SI) tax relief.

• A claim for SI relief cannot be made until the social enterprise has carried on its chosen trade for at least four months, unless it is an accredited social impact contractor.
• The claim must be submitted no later than five years after the normal self-assessment filing date for the tax year in which the investment was made.
• Where the social enterprise is an accredited social impact contractor, the four-month trading requirement does not apply, meaning a claim can be made sooner.
• Where part of the investment is treated as having been made in an earlier tax year under the carry-back rules in section 257JA, the two portions are treated as separate investments with separate claim windows.