The Chancellor announced yesterday in the 2021 Autumn Budget that the rates of surrender for Theatre, Orchestra and Museums and Galleries tax credits will be increased from the 27th October 2021 onwards. 

The new rates will be tiered and return to normal from 1st April 2024 onwards. 

More information can be found in HMRC's Policy Paper entitled 'Cultural Relief Rate Rises for Theatre, Orchestra, and Museums and Galleries Exhibition Tax reliefs' - see link: HMRC's Policy Paper

Photo: HM Treasury


Production phase HMRC guidance 02/12/2021