Financial Liverpool CPD Event - Fri 28 April 2017
Social Investment Tax Relief (SITR) and the Social Stock Exchange (SSX)
Lesley Beattie of SSX and Peter Taafe of BWMacFarlane
Coffee and networking 12:00 – 12:30
CPD talk 12:30 – 13:30
Buffet Lunch and networking: 13:30 – 14:30
Tilney offices, Liver Building, Pier Head, Liverpool L3 1NY
PLEASE USE THE RIVERSIDE ENTRANCE
Social Investment Tax Relief (SITR) is a tax break for trading charities and social enterprises. The speakers will explain how SITR works in practice and introduce Social Stock Exchange (SSX), explaining how to invest in local, impactful projects and business using the SITR allowance.
The target audience will be financial planners, paraplanners, investment professionals, accountants and legal professionals.
SITR is the government's tax relief for social investment which encourages individuals to support charities and social enterprises accessing new sources of repayable finance. Individuals receive tax breaks when investing into an eligible organisation.
The January 2017 HMRC Policy paper “Income Tax: enlarging Social Investment Tax Relief” proposes a number of changes to SITR to apply to investments made on or after 6 April 2017. These include an increase in the amount of money newer social enterprises may raise from individual investors under the scheme, restricting some of the activities, and provisions designed to better target the scheme on higher risk activities and deter abuse.
The Liverpool and Wirral SSX aims to provide access to the world’s first regulated exchange dedicated to businesses and investors seeking to achieve a positive social and environmental impact through their activities, making change happen in the North West.
Learning Objectives - by the end of the event, delegates will understand:
- What is SSX, why it was established and how to engage with it
- What is impact investing and how has this changed in recent years
- How is impact investing tested and certified
- How does a local exchange support the local economy and contribute to the local pound
- The types of projects that can be invested in through SITR
- The challenge of creating a level tax relief playing-field with mainstream business that SITR tries to address for social enterprises
- The goals of SITR launched in April 2014
- The plans for the enlarging of SITR as outlined in the Policy Paper “Income Tax: enlarging Social Investment Tax Relief”
- The constraints of the SITR offering
- The public impact seen to date of SITR
About the speakers
Lesley is Director of Liverpool & Wirral SSX. She has enjoyed a career in financial services over several decades and in a plethora of roles; recruitment, training, management and as an IFA.
Family commitments saw her relocate to Spain in 2000 where she worked as a Marketing Manager for a HNW golf holiday company and diversified further by training leaders and opening franchises for Weightwatchers across Costa del Sol and Costa de la Luz.
Returning to the UK in 2009 she moved into a Business Development role for friends and colleagues at Fraser Wealth Management. Enterprising and passionate about relationship building, she was headhunted to join Liverpool City Council to work for the city on the Visitor Economy sector and to create a commercial offer for the Culture Division. Four years later securing a pot of £6 million of partner/sponsor money to enable Liverpool continue its world class cultural offer, she was approached to become Director of Liverpool and Wirral Social Stock Exchange, the first localised exchange outside of London. She is married with two sons and a dog.
Peter is Managing Partner of BWMacfarlane Chartered Accountants and is responsible for this busy Liverpool City Centre accountancy practice. He originally trained and qualified as a Chartered Accountant with Deloitte Haskins & Sells (now PricewaterhouseCoopers) in their London office before relocating back to their Liverpool office, qualifying as an associate member of the Chartered Institute of Taxation before joining Ernst & Young as a senior tax manager. Peter joined a small Liverpool firm in 1991, growing it from 6 staff to the current team of 60 through organic growth and merger.
BWM acts for over 150 charities and not for profit organisations, giving exceptional experience in this specialist sector. Peter additionally has a wealth of direct charity experience, recently becoming a trustee of Open Awards, a national education Awarding Organisation, having previously been the treasurer of a substantial charity; main board member and chair of the finance committee for 5 years of a substantial and complex North West housing association; and Governor of an independent school in Liverpool for 3 years.
Peter sits on the Charities Committee at the Institute of Chartered Accountants in England and Wales. He regularly delivers talks at seminars and webinars on a variety of finance and governance related charity matters.
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When & Where
Financial Liverpool is a society for professionals working in the financial services sector in Liverpool, including financial advisers, discretionary fund managers, pension providers, private client lawyers etc.
We host ten meetings per year, usually the last Friday of the month.
The current format is a talk for about an hour followed by a lunch where you can network with fellow members. The events start at noon and are hosted by Tilney BestInvest in the Royal Liver Building.
The events are free for members, and membership is free if you are a member of CII/PFS (otherwise a charge of £50 applies for your firm's annual membership).
Click here for more information on how to join.
Financial Liverpool used to be called Merseyside Life & Pensions.