Commentary

D7.1275 Theatrical production tax relief—qualifying conditions: overview

Corporate tax
Corporate tax | Commentary

D7.1275 Theatrical production tax relief—qualifying conditions: overview

Corporate tax | Commentary

Theatrical production tax relief

D7.1275 Theatrical production tax relief—qualifying conditions: overview

Theatrical production tax relief takes two forms, additional allowable deduction and theatre tax credit1. The additional deduction is the lower of2:

  1.  

    •     the expenditure which is qualifying UK or EEA expenditure (referred to as 'European expenditure' in the legislation), or

  2.  

    •     80% of the total amount of qualifying expenditure

The payable tax credit is 25% of losses surrendered (for touring productions) or 20% of losses surrendered (for non-touring productions)3.

A company qualifies for theatrical production relief if it4:

  1.  

    (a)     is the production company

  2.  

    (b)     meets the condition in

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