Note that this scheme closed to new investment from 6 April 2023 onwards.
Certain concepts described below are key to the structure of SI relief: the investment date and, linked to that, the shorter and longer applicable periods. Others appear throughout the commentary and are dealt with here for the avoidance of repetition: control, associate, receivership, etc.
Social impact contractor
A social impact contractor is a company, limited by shares, duly accredited by a Minister as established for the sole purpose (other than incidental purposes) of carrying out a social impact contract. The Minister may withdraw accreditation where conditions are breached (including the carrying on of excluded activities — see E3.908)1. A social impact contract is a contract meeting criteria established by regulations2. Regulations may also impose further conditions on accreditation, as well as covering the provision of information, the consequences of failure to meet requirements, penalties and an appeal process3. Contractors may enter into more than one social impact contract under the same accreditation4. Accreditation
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