Theatre Tax Relief
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Theatre Tax Relief
The Theatre Tax Relief allows for both commercial and charitable incorporated companies to claim relief on their Corporation Tax. This benefit is received by companies in the form of reduced tax liability or in some cases a payable tax credit.
Theatre Tax Relief Eligibility Criteria
Your production must have roles in it that are performed wholly by humans, whether they’re actors, singers, dancers, it does not matter as long as the majority of the production is performed by them.
The production must be classed as either: a dramatic production, a ballet, play, opera or a musical.
Your production must be put on for a paying audience or for educational purposes.
The performances of your production must be live in order to qualify for this incentive.
- Your company must be involved in operations, meaning that you must have an input in decision making throughout the duration of the production and pay for:
What You Cannot Claim Through Theatre Tax Relief
There are a few limiting factors to the incentive:
- Your production was produced to advertise a product
- If the production plays a part in a competition
- Your company cannot claim if wild animals were included in your production
- Also if your production is of sexual nature
How Does Counting King Handle My Claim?
The process is simple:
Getting To Know You
We will hold an initial, informal conversation with you to understand what activities you have conducted, what your business is and whether you qualify for the incentive
Evaluating Your Costs
We will request your financials to evaluate your costs and calculate your benefit
Writing Your Claim
Counting King will write the claim for you which you can look over before submission to HMRC – you can be as involved in the process of writing your claim as you want to be
Receive your benefit in either a reduction in your Corporation Tax liability or a payable credit
For help or advice please contact us:
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