What is the Community Investment Tax Relief Scheme?
The Community Investment Tax Relief (
CITR) scheme encourages investment in accredited intermediary organisations, called
Community Development Finance Institutions (CDFIs). The tax relief under the system is available to both individuals and companies.
CDFIs may take a range of forms, including:
• Community loan funds, which make capital available to community regeneration initiatives and businesses;
• Micro-finance funds, which make small loans, usually at near-market rates of interest, to the smallest businesses, e.g., sole traders and
• Social banks - profit-seeking financial service providers or subsidiaries dedicated to social or environmental objectives.