Theatres: Tax Allowances

Treasury written question – answered at on 21 November 2023.

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Photo of Alison Thewliss Alison Thewliss Shadow SNP Spokesperson (Home Affairs)

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.

Photo of Nigel Huddleston Nigel Huddleston The Financial Secretary to the Treasury

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.

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