Theatre tax relief - boosting the UK’s rising stars
One year on from the first lockdown, theatres in the UK finally have something to look forward to following the government’s proposed roadmap back to normality.
This month’s budget also provided a welcome announcement that £390m is to be given to arts venues, including theatres, to help reinvigorate this badly affected area of the economy.
Another source of income available to UK theatre companies and charities is that of Theatre Tax Relief (TTR), which enables qualifying organisations to claim tax credits on both touring and non-touring productions for most types of productions and ballets. Up to 20p can be claimed back for every £1 spent on producing and closing productions as well as some exceptional running costs.
One such organisation that has benefited from this relief is The Television Workshop Limited, a charitable company based in Nottingham whose casting successes include Chris Gascoyne (Coronation Street’s Peter Barlow), Joe Dempsie (Game of Thrones, This is England, Skins), Vicky McClure (This is England, Broadchurch, Line of Duty), Jack O’Connell (Skins, Starred Up, Unbroken), Aisling Loftus (The Borrowers, Mr Selfridge) and Toby Kebbell (The Escape Artist, Dawn of the Planet of the Apes, RocknRolla).
The charity aims to make its workshops affordable to everyone so that no talented student is ever excluded. The organisation has been able to claim £4,000 in TTR relating to eight shows that it produced over the last few years, including classics like Nell Gwyn and The Power of Darkness and its own original workings such as Instinct. The credit will help the charity to continue producing rising stars through their unique productions.
For further information on claiming Theatre Tax Relief please do not hesitate to contact us at firstname.lastname@example.org.
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