Museums and Galleries Exhibition Tax Relief

Museums and Galleries Exhibition Tax Relief was introduced by Finance Act (No2) 2017 (see link) and commenced on the 1st April 2017.  It is available in respect of newly developed temporary and permanent exhibitions produced by:

- Charitable companies;

- Trading subsidiaries of charitable companies; or

- Companies wholly owned by local authorities.

Museums and Galleries Exhibition Tax Relief is unusual amongst the Creative Industries Tax Reliefs for several reasons: It is not available to commercial companies; it introduces the concept of primary and secondary companies; there is a limit to the amount of tax credit claimable and the legislation includes a sunset clause.   

Some of the common questions include:

- How do we qualify when our charity has no liability to Corporation Tax or files a Company Tax Return?

- What expenditure qualifies for enhancement?

- What constitutes a touring exhibition?

- What is the difference between the primary and secondary production company?

- How to apportion costs between Core and Non-Core activities?

We are here to help you with all the above and more, so that you receive the Museums and Galleries Exhibition Tax Credit to which you are entitled.

To find out more about Theatre Tax Relief or any of the other Creative Tax Reliefs simply get in touch using the contact form or details below

 

CREATIVE TAX RELIEF UPDATES

 


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