Community Investment Tax Relief and the Responsible Finance Sector
The report considers the impact of Community Investment Tax Relief since its launch in 2002 (March 2018)
Community Investment Services Ltd undertook research into the impact of Community Investment Tax Relief (CITR) since the scheme’s launch in 2002. The work was commissioned by Power to Change and a number of CDFIs.
The research found that £145 million of CITR investment had been generated which has facilitated around £127 million of lending into small enterprises in disadvantaged communities. However the scheme’s potential is far below the levels of investment initially expected. The research explores the CDFI market’s desire to increase the use of CITR and meet the scheme’s social and economic potential.
The report outlines a range of recommendations to achieve this ambition including amendments to the scheme and awareness raising with CDFIs and investors alike.Return to knowledge centre