Many production companies are missing out on valuable Theatre Tax Relief – are you making the most of it?
Download our Quick Guide to learn more >
What is Theatre Tax Relief?
Theatre Tax Relief (TTR) is a valuable incentive that allows theatrical production companies to claim a portion of their qualifying expenses as a tax credit.
Since its introduction in 2014, over 20,000 businesses have successfully claimed Theatre Tax Relief, with £645 million paid out. It’s been pivotal in financially supporting theatrical productions across the UK.
If you’re involved in producing theatre, musicals, or other performing arts productions, you may be eligible for this relief.
Download our Quick Guide to learn more >
TTR Eligibility Criteria
To claim Theatre Tax Relief (TTR), your production must meet the following key criteria:
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Theatrical Production: The production must be a live performance intended for public audiences. It cannot be a private event or promotional activity.
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Public Performance: The production should be intended for live performances to paying members of the public or for educational purposes.
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Expenditure Requirements: Eligible costs include core expenditure directly related to producing and closing the production, such as wages for performers and crew, set and costume design, and rehearsal expenses.
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UK-Based Expenditure: To qualify for TTR, at least 10% of the core expenditure must be UK-based.
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Touring Productions: If your production is a touring production, you must meet the criteria of performing in at least six separate locations or holding at least 14 performances in two or more venues.
Theatre Tax Relief Rates
The initial tax relief rates in 2014 were set at 20% non-touring and 25% touring.
During Covid, the Theatre Tax Relief rates were increased to 40%/45% to help offset the impact of the pandemic. These rates were set to taper back to the lower levels of 20/25% by 2025.
However, some good news in the Spring Budget 2024 included an announcement that the higher rates for TTR would remain.
In 2024, the rates are 45% non-touring and 50% for touring productions. In 2025, the rates will be 40% non-touring and 45% touring – and the rates will remain at this level permanently.
Orchestra Tax Relief (OTR) and Museums and Galleries Exhibition Tax Relief (MGETR) will also be permanently set at 40% (for non-touring productions) and 45% (for touring productions and all orchestra productions).
Atek Can Help
Download Atek’s Quick Guide now for a clear, detailed breakdown of Theatre Tax Relief!
While there are quite a few rules surrounding eligibility, the potential cost savings are significant. It’s definitely worthwhile reviewing whether you could claim.
At Atek, we’re passionate about supporting businesses in the performing arts industry. We have extensive experience helping theatre companies successfully claim this relief and will guide you through every step of the process.
Get in touch today to determine your eligibility and maximise your claim.
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