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Consultation on tax relief to encourage new exhibitions.
The Treasury is consulting on a tax relief to encourage museums and galleries to develop new exhibitions and attract a wider audience. It will apply from April 2017.
It will be based on other creative tax sector reliefs; the key features include:
- the institution will need to be within the scope of corporation taxes;
- the institution must qualify as a museum or gallery as defined in the consultation; and
- relief will take the form of an additional deduction for corporation tax purposes which can be surrendered for a payable tax credit.
Email responses to museumsandgalleriestaxrelief@hmtreasury.gsi.gov.uk by 8 October.
For details, see here.
