Cultural Heritage: Tax Allowances

(asked on 11th February 2021) - View Source

Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what discussions he has had with the Chancellor of the Exchequer on the potential merits for (a) the heritage sector, (b) the Welsh economy and (c) rural jobs of lifting the cap on Sideways Loss Relief for heritage attractions for the 2020-21 financial year.


Answered by
Nigel Huddleston Portrait
Nigel Huddleston
Financial Secretary (HM Treasury)
This question was answered on 22nd February 2021

The UK’s heritage assets are important to tourism and are internationally admired, but any change in the current Sideways Loss Relief system, such as an increase in the cap to £100,000, must be thoroughly considered and protected against abuse.

The Department for Digital, Culture, Media and Sport has been working hard to support our sectors through this period of uncertainty, including the heritage sector. DCMS will continue to explore this proposal with HMT as we move forward into future fiscal events.

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