Theatres: Tax Allowances

(asked on 16th November 2023) - View Source

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 Portrait
Nigel Huddleston
Financial Secretary (HM Treasury)
This question was answered on 21st November 2023

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.

Reticulating Splines