Who is eligible? | Big Society Capital

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Who is eligible?

For a transaction to be eligible for SITR, nine criteria must be met.

Investee

1. Legal Status

  • Is a registered charity, Community Benefit Society, Community Interest Company or accredited social impact contractor

2. Size

  • Has less than equivalent of 500 full-time employees AND
  • Less than £15 million gross assets (ignoring any liabilities)

3. Activities

Does not conduct a substantial amount of any excluded activities, including (but not limited to):

  • Dealing in land, commodities of futures; OR
  • Banking, insurance, moneylending (except to social enterprises); OR
  • Property development solely or primarily to make capital gains; OR
  • Generating or exporting electricity (where it is subsidised)

Investment

4. Type

Is either:

  • Shares OR
  • Debt that:
  • Is not secured by any assets AND 
  • Does not repay the principal in first 3 years AND
  • Is not preferred to any other investment instruments on wind-up

5. Amount Raised

  • Is less than £270,000 (approximate conversion of €400,000)

6. Term

  • Is held for at least 3 years

7. Other Relief

  • Has not received other form of tax relief on the same investment

Investor

8. Investor

  • Is an individual paying income tax in the UK 

9. Structure

Makes investment either:

  • Directly OR
  • Through a nominee