Highlighting concern for culture sector recovery
Due to the impact the cost crisis is having on the culture sector, Culture Secretary Angus Robertson has called on the UK Government to extend the higher rate for Theatre and Orchestra Tax Relief to March 2024.
In his letter to the Chancellor Jeremy Hunt, Mr Robertson has highlighted his concern that the expected decrease in the tax relief from April 2023 will significantly hamper the culture sector’s ability to recover from the Covid-19 pandemic.
Read Mr Robertson’s letter in full - www.gov.scot/publications/theatre-and-orchestra-tax-relief-letter-to-uk-government
In the UK Government’s 2021 Autumn Budget Statement, the Chancellor announced a temporary increase in the rate of certain creative sector tax reliefs. These increases were for a limited period only and intended to kick-start activity in these sectors post-Coronavirus.
The changes were:
- The rate of Theatre Tax Relief for non-touring productions was to be increased to 45% until 31 March 2023, then to 30% for the following year, before returning to 20% from 1 April 2024. For touring productions, the rates were respectively 50%, 35% and then back to 25%.
- The rates of Orchestra Relief became 50% from the statement date until 31 March 2023, 35% for the following year and then return to 25%.
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