Theatre Tax Relief

Theatre Tax Relief

Theatrical productions which are created for a paying audience may qualify for Theatre Tax Relief (TTR). Eligible productions include dramas, musicals, ballets, operas and even circuses.

TTR was first made available on 1 September 2014; to be eligible the production company

Must be a Theatrical Production Company

Must be a Qualifying theatrical production

Must have a minimum 25% expenditure in the EEA area

The production company does not have to be a commercial company, it can be a charity or the trading arm of a charity.

TTR has 2 rates of payable credit, 25% for touring productions, and 20% for others

Interestingly there is no need for companies to undergo a Cultural Test, which there is for most other creative industry tax reliefs.

TTR Qualifying expenditure This is defined as expenditure that is incurred relating to the producing and closing of the production. Any expenditure incurred in the ordinary running of the production does not qualify. However, expenditure on a significant recasting or set redesign midway through the performance run may be eligible for TTR. Non-direct costs including financing, marketing, legal services, or storage do not qualify for TTR.

Please contact Ian Gibbon or David Gibbs to talk about how we can help you with your TTR claim.