Accounts & Tax Preparation

This is a given, and we do it well, giving you peace of mind that everything is in order.

Strategy & Planning

Critical reporting will help you understand what the numbers mean so you can make the right decisions for your business.

Day-to-Day Administration

Don’t let the admin work distract you from running your core business.

Xero

We are Xero Certified, so you can leverage the UK’s leading cloud-based accounting platform.

Theatre Tax Relief is a UK tax incentive aimed at supporting the theatre industry by providing tax relief on the production costs of certain theatrical productions. It was introduced in the Finance Act 2014 and is administered by HM Revenue & Customs (HMRC).

To qualify for Theatre Tax Relief, a theatrical production must meet certain criteria, including:

1. It must be a live performance of a dramatic piece, comedy, ballet, opera, or musical.
2. It must be performed to a paying audience, with at least 25% of the performances taking place in the UK.
3. It must be intended for general release to the public.

If a theatrical production meets these criteria, it may be eligible for Theatre Tax Relief on certain production costs, such as salaries for cast and crew, set construction, costumes, lighting and sound equipment, marketing and publicity, and theatre hire.

The amount of tax relief available is calculated as a percentage of the eligible expenditure incurred by the production company and can range from 20% to 25%. The relief can be claimed by the production company or by any individual or company that has invested in the production.

The Finance Act 2022 introduced temporary higher rates for productions that commence the production phase on or after October 27, 2021. These higher rates last until March 31, 2024.

Theatre Tax Relief is a valuable incentive for the theatre industry, helping to encourage the production of new and innovative theatrical works and supporting the cultural and creative landscape of the UK.