SITR definition

SITR means social investment tax relief which provides each eligible Bondholder with income tax relief at 30% of the respective amounts subscribed in the Bonds, subject to a maximum annual investment limit of£1,000,000 (as further defined in Schedule 11 of Part 5B of the Income Tax Act 2007); ‘SITR Compliance Certificate’ means a certificate issued by the Society to the eligible Bondholders, immediately following authorisation by HMRC and/or a certificate issued by HMRC directly to the eligible Bondholders once HMRC have approved the SITR Compliance Statement; ‘SITR Compliance Statement’ means a statement completed by the SITR Compliance Representative to be sent to HMRC in respect of SITR; ‘SITR Conditions’ has the meaning given to it in Clause 12.2; ‘SITR Compliance Representative’ means the secretary of the Society or any Director or any person authorised by them to negotiate with HMRC on their behalf; ‘SITR Eligible Period’ means the period commencing on the Issuance Date and ending on (and including) the third anniversary of the Issuance Date; ‘Special Resolution’ means a resolution passed at a meeting of the Bondholders duly convened and held in accordance with the provisions of this instrument and carried by a majority consisting of not less than 75% of the persons voting at such meeting on a show of hands or, if a poll is demanded, by a majority consisting of not less than 75% of the votes given on such poll; and ‘51% Subsidiary’ means a subsidiary in which 51% of its shares are held by a holding company.
View Source
SITR. Social Investment Tax Relief as introduced within Sections 11 and 12 of the Finance ▇▇▇ ▇▇▇▇; “SITR Qualifying Company” a company which is a qualifying company for the purposes of SITR;
View Source

Examples of SITR in a sentence

  • Investors should consider the suitability of investment in SITR investments carefully and note the risk warnings set out in the Information Memorandum.

  • Tax due on capital gains made from selling other assets can be deferred by reinvesting under the EIS or SITR within three years of making the gain.

  • In the case of the Fund, Innvotec will ensure that the proposed Investee Company complies with the definition of a SITR Qualifying Company (as appropriate) and that any Investment proposed to be made by the Fund Manager on behalf of Investors is not, so far as Innvotec is aware, precluded in any other way that would prejudice an Investor’s entitlement to SITR Relief.

  • SITR investments are high-risk investments, being Non-Readily Realisable Investments.There is a restricted market for such investments and it may therefore be difficult to sell such investments or to obtain reliable information about their value.

  • The Adolescent Care SITR Fund is designed to provide Investors with access to a portfolio of loans in unquoted community interest companies and which qualify for the SITR tax benefits.The Fund is not designed to provide you with repayment of your commitment and accrued interest in the short term.

  • The amounts invested under EIS, SEIS or SITR can be treated as made in the previous tax year if the investment limit for the earlier year has not been reached.

  • You need to wait for a certificate to arrive before making a claim for your investment under the Venture Capital Schemes – EIS, SEIS or SITR – so the claims period for those schemes is five years after the tax return submission date.

  • Landlord shall pay to Tenant a “Construction Allowance” of up to $1,160,950.00 with respect to the Suites added by this Amendment (calculated as $35.00 per rentable square foot times 33,170 rentable square feet), but not exceeding the actual hard construction costs of Tenant’s Work (as defined below).

  • I attach my cheque or banker’s draft drawn on a UK clearing bank or building society made payable to “Innvotec Nominees Limited - Adolescent SITR Fund” and enclose three forms of identification; OR funds will be transferred via electronic transfer to “Innvotec Nominees Ltd - SITR Fund”, I undertake to notify Innvotec Limited immediately of any changes in the information given above.

  • SITR Cut-Off Date The date three years and one day after the Date of this Agreement.

Related to SITR

  • SITC means the Standard International Trade Classification, Revision 3 (SITC, Rev. 3), published by the United Nations in Statistical Papers, Series M, No. 34/Rev. 3 (1986);

  • Landfill cell means a discrete volume of a hazardous waste landfill which uses a liner to provide isolation of wastes from adjacent cells or wastes. Examples of landfill cells are trenches and pits.

  • Forest means an area of land defined by the minimum values for area size, tree crown cover or an equivalent stocking level, and potential tree height at maturity at the place of growth of the trees as specified for each Member State in Annex II. It includes areas with trees, including groups of growing, young, natural trees, or plantations that have yet to reach the minimum values for tree crown cover or an equivalent stocking level or minimum tree height as specified in Annex II, including any area that normally forms part of the forest area but on which there are temporarily no trees as a result of human intervention, such as harvesting, or as a result of natural causes, but which area can be expected to revert to forest;

  • Brownfield site means an abandoned, idled, or underutilized industrial or commercial facility where expansion or redevelopment is complicated by real or perceived environmental contamination. A brownfield site includes property contiguous with the property on which the individual or commercial facility is located. A brownfield site shall not include property which has been placed, or is proposed for placement, on the national priorities list established pursuant to the federal Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), 42 U.S.C. 9601 et seq.

  • Forestland means land primarily devoted to growing trees