16 March 2023

March 2023 Budget – Extending the higher rates of Theatre Tax Relief and Orchestra Tax Relief

As announced in the Spring Budget 2023, the government will extend the current headline rates of relief for Theatre Tax Relief(TTR), Orchestra Tax Relief(OTR) and Museum and Galleries Exhibitions Tax Relief(MGETR) for two years.

The rates for TTR and MGETR, which were due to taper to 30% (for non-touring productions) and 35% (for touring productions) on 1 April 2023, will remain at 45% and 50%, respectively, until 31 March 2025. From 1 April 2025, the rates will be 30% and 35%, and rates will return to 20% and 25% on 1 April 2026.

The rates for OTR will remain at 50% for expenditure from 1 April 2023, reducing to 35% from 1 April 2025 and returning to 25% from 1 April 2026.

MGETR will expire after 31 March 2026, and no expenditure after this date will be eligible for relief.

The detailed information can be found here:

More from the blog