I was pleased to hear that the Government’s Theatre Tax Relief has now come into effect as of 1 September. This measure was announced by the Chancellor in his 2013 Autumn Statement and is designed to provide support for theatres in the form of an additional corporation tax deduction or a payable tax credit. This would be worth up to 25% of qualifying expenditure for touring productions and 20% for all other productions. I am a great supporter of the performing arts within the constituency and I am pleased that the Government has taken steps to support them. For those that wish to find out more information about this tax relief, they can do so by clicking here.
Theatre Tax Relief