Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, is he will make an assessment of the potential merits of extending Theatre Tax Relief after 2025.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The Government recognises the value of the UK’s world leading creative industries and arts sectors.
At Spring Budget 2023, the Government went further to support theatres through the creative industry tax reliefs.
To continue to offset ongoing pressures and boost investment in our cultural sectors, the Government announced a 2-year extension to the current 45 per cent (for non-touring productions) and 50 per cent (for touring productions) rates of theatre tax relief.
These rates will now taper to 30 per cent/35 per cent on 1April 2025 and return to 20 per cent/25 per cent on 1 April 2026.
The Government keeps the tax system under continuous review. Any changes to tax reliefs will be communicated through the normal fiscal event process.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of extending Theatre Tax Relief on the Government's levelling up policies.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The Government recognises the value of the UK’s world-leading creative industries. That is why at Spring Budget 2023, the Government went further to support theatres through the creative industry tax reliefs.
To continue to offset ongoing pressures and boost investment in our cultural sectors, the Government has announced a 2-year extension to the current 45 per cent (for non-touring productions) and 50 per cent (for touring productions) rates of theatre tax relief (TTR). These rates will now taper to 30 per cent/35 per cent on 1 April 2025 and return to 20 per cent/25 per cent on 1 April 2026. Theatre tax relief is available to qualifying productions in all regions and nations in the UK.
The Government published a tax information and impact note at Spring Budget 2023, which sets out details of the policy impacts of the extension of the 45 per cent/50 per cent rates of TTR.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has had discussions with the (a) Secretary of State for Digital, Culture, Media and Sport and (b) Gambling Commission on the implications of the fourth National Lottery licence on levels of (a) Lottery Duty and (b) returns to good causes.
Answered by Simon Clarke
The Fourth National Lottery Licence Competition was an independent process run by the Gambling Commission. The Treasury engaged with senior officials from the Department for Digital, Culture, Media and Sport and the Gambling Commission regarding the Competition as it progressed. HMRC monitor receipts from specific betting and gaming duties, including Lottery Duty.