Big Society Capital has launched a free package of support to help charities and social enterprises understand and make use of social investment tax relief.

The package, Get It, aims to increase the understanding of SITR, which is designed to encourage individuals to invest in charities and social enterprises by providing a 30 per cent tax break. Big Society Capital is offering organisations access to a free package of support ranging from education to expert advice.

Nick O’Donohoe (pictured), chief executive of Big Society Capital, said: “Over the last year, we have a seen a number of charities and social enterprises use SITR to scale up their activities and increase their impact. It is encouraging to see the diversity of deals taking place ranging from tackling youth homelessness to building assets for local communities. We want to help even more organisations take advantage of the opportunity presented by the relief.”

The maximum investment into an individual organisation using SITR is currently approximately £270,000 over three years. However this is likely to rise to £5m later this year if the EU grants permission under State Aid rules.

FC United of Manchester and FareShare South West are both organisations that have used SITR to raise investment and support their activities, raising £270,000 and £70,000 respectively.

Two social impact bonds, the Ambition East Midlands and Aspire Gloucestershire, have also raised a combined total of £910,000 using SITR.

To sign up to receive the support package, charities and social enterprises can click here.