Theatre Tax Relief The government will introduce Corporation Tax relief in respect of theatre production from 1 September 2014. Legislation will be published as part of Finance Bill 2014. There will be transitional arrangements as expenditure incurred before 1 September 2014 will not be eligible to form part of the calculation for relief. The periods falling before, and on or after, 1 September 2014 are treated as separate accounting periods for calculating the relief. The main CT600 Company Tax Return form does not need to be updated, as a claim for the relief may be made in the same way as for Film Tax Relief, and the other Creative Sector Tax Reliefs, using box 87 on the CT600 and by providing a detailed calculation of this figure. HMRC will be updating the CT600 Guide and further guidance will be made available later in the year.
Posted on: Fri, 21 Nov 2014 20:00:01 +0000
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