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New relief for museums

20 September 2016
Issue: 4568 / Categories: News

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 by 8 October.

For details, see here.

Issue: 4568 / Categories: News
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