Voluntary sector and private sector unite in Shropshire
ShropShare, Shropshire’s independent hub for socially responsible businesses, has watched with interest as national bodies respond to the Government’s new tax relief scheme for social investment. The new tax relief scheme encourages individuals to support social enterprises, and helps social enterprises access new sources of finance.
Charitable tax reliefs are a very importance source of support for the voluntary sector. In total tax reliefs for charities are estimated to be worth £3.3bn, according to HMRC.
One of the most widely used reliefs is Gift Aid – where charities get back the basic rate tax that donors have paid on the value of their donation. Gift Aid is worth over £1bn to the voluntary sector, and last year the Government set up Charities Online with the aim of making it easier for charities to claim Gift Aid and Gift Aid Small Donations Scheme.
The new social investment tax relief will give individuals who invest in qualifying social organisations a reduction of 30% of that investment in their income tax bill for that year. To find out more click here.
Lindsay Barton, one of ShropShare’s members, said:
“I run a Shropshire-based company called Golden Kite Solutions. I understand how important it is that my business invests in the local community and supports local groups and organisations working for the benefit of local people and Shropshire’s environment. I find the support ShropShare offers, in communicating change, such as the new social investment tax relief, incredibly valuable.”
ShropShare hopes to support private sector leaders and others learn more about new national policy and local issues to support better cross-sector working. ShropShare provides local businesses that recognise the commercial and social value of investing in their staff, their communities and the environment, the support they need to come together and share knowledge and best practice around Corporate Social Responsibility and community engagement.
Speaking about ShropShare, Gwilym Butler, Shropshire Council’s Cabinet member leading on the voluntary sector, said:
“Seeing the way ShropShare has grown and attracted new business members has been fantastic. The communication, networking and co-ordination ShropShare offers is essential to support the coming together of Shropshire’s business and community sectors. The bridge between sectors is often the place where creativity grows.”
ShropShare works closely with Shropshire Providers Consortium and Shropshire Voluntary and Community Sector Assembly, a body that brings together voluntary and community sector groups and organisations. This partnership working ensures socially responsible businesses are able to build rewarding and mutually beneficial relationships with carefully chosen charities or projects that meet their business objectives.
Local businesses and voluntary and community sector groups and organisations are invited to get involved in these important local networks. To find out more visit http://shropshare.org/, http://vcsvoice.org/,and http://www.shropshireprovidersconsortium.co.uk/.