Sarah Bradford looks at the higher rates of corporation tax relief applying to cultural reliefs for a limited period.
To help the cultural sector recover from the effects of the Covid-19 pandemic, the rates of corporation tax relief available for cultural reliefs are increased for a limited period.
Theatre tax relief
Theatre tax relief (TTR) is a corporation tax relief, the legislation for which is found in CTA 2009, s 1217K.
A company can claim TTR if it puts on a play, opera, musical or other dramatic piece where performances are live and the performers give their performances wholly or mainly through the playing of roles or a ballet. In addition, all or a high proportion of the performances are to paying members of the general public or provided for educational purposes.
At least 25% of the core expenditure must be on goods and
