Commentary

B5.670A Theatre backers—overview

Business tax
Business tax | Commentary

B5.670A Theatre backers—overview

Business tax | Commentary

Theatre backers

B5.670A Theatre backers—overview

Profits from investment from theatrical productions by persons not normally connected with the theatre is within the charge to income tax on annual payments not charged under any other provision1. Losses from such investments are treated under capital gains rules. From 1 April 2017, payments to individual investors relating to new productions from 1 April 2017 are treated as distributions. Any interest received by corporate investors will not be treated as a distribution but as a deductible expense.

Prior to 1 April 2017, by concession2, UK resident theatre backers ('angels') could treat profits under ITTOIA

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