Money matters: Development Investment Initiative, National Endowment for Science, Technology and the Arts, HM Revenue & Customs

David Ainsworth's round-up of what's happening in the finance world

Richard Branson
Richard Branson

A new programme launched by entrepreneur Richard Branson will aim to increase the level of social investment in developing countries from private and institutional investors in the UK. The Development Investment Initiative is made up of private equity investors, charitable foundations and individuals.

The National Endowment for Science, Technology and the Arts is asking for ideas for new financial products and concepts that can be used by the Big Society Bank when it launches next year. Suggestions should be submitted by 5 November and the 15 best will be chosen by 19 November. Application forms are available.

HM Revenue & Customs is consulting lawyers and charity umbrella groups on draft versions of the forms that charities will have to fill out to show that their trustees and senior managers meet the demands of the 'fit and proper persons' legislation introduced in April. Charities in which staff do not meet the requirements will not be eligible for tax relief. The final forms are expected to be released in December.


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