Asked by: Alison Thewliss (Scottish National Party - Glasgow Central)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of permanently extending the higher rate of Theatre Tax Relief.
Answered by Nigel Huddleston - Shadow Secretary of State for Culture, Media and Sport
The government recognises the value of the UK’s world-leading theatre sector.
That is why at Spring Budget 2023, the government went further to support theatres by announcing a 2-year extension to the current 45% (for non-touring productions) and 50% (for touring productions) rates of theatre tax relief (TTR). These rates will now taper to 30%/35% on 1 April 2025 and return to 20%/25% on 1 April 2026.
The government is not currently considering making the 45%/50% rates of TTR permanent, however, the government keeps the tax system under review.
Asked by: Alison Thewliss (Scottish National Party - Glasgow Central)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of allowing half of all marketing spend to be included in the qualifying costs of Theatre Tax Relief.
Answered by Nigel Huddleston - Shadow Secretary of State for Culture, Media and Sport
The government recognises the value of the UK’s world-leading theatre sector. At Spring Budget 2023, the Government went further to support theatres by extending the 45 per cent (for non-touring productions) and 50 per cent (for touring productions) rates of TTR for a further 2 years.
Whilst the Government keeps all tax reliefs under review, the Government is not planning to expand the scope of Theatre Tax Relief (TTR) to include 50 per cent of marketing spend. The objective of theatre tax relief is to support and incentivise production and that is why eligible expenditure is focussed on the costs that are incurred producing and closing the theatrical production, rather than marketing.
Asked by: Alison Thewliss (Scottish National Party - Glasgow Central)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many private limited companies that formed in 2021 have filed accounts with HMRC as of 7 November 2023.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
HMRC has interpreted this question to refer to details of Corporation Tax (CT) returns filed by companies incorporated in 2021.
The deadline for filing all of those CT returns has not yet been reached, and some companies will have, or may still inform HM Revenue and Customs (HMRC) that they are not trading, therefore HMRC would not expect returns from them. Given this, up to date and accurate information cannot be provided.
Asked by: Alison Thewliss (Scottish National Party - Glasgow Central)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made with Cabinet colleagues of the potential impact of changes in the Government’s energy support schemes on the economy.
Answered by James Cartlidge - Shadow Secretary of State for Defence
At Spring Budget 2023, the OBR forecast that taken together, the freezing of fuel duty, changes to alcohol duty and the extension of the Energy Price Guarantee (EPG) for three months lower CPI inflation by 0.7 percentage points in 2023-24.
The OBR forecast that overall the EPG, including the prior announcement at Autumn Statement, will take 2 percentage points off CPI inflation in the year 2023.The subsequent increases to fuel and alcohol duties and the EPG measure then add 0.4 percentage points to CPI inflation in 2024-25.