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0113 246 1234

Is your organisation ready for the proposed changes to the Cultural Tax Relief scheme?

A recent HM Revenue & Customs (HMRC) Policy Paper on administrative changes to creative industry tax reliefs includes modifications to Cultural Tax Reliefs, despite these being excluded from a November 2022 consultation.

Effective from 1 January 2024, charities will be required to use a new online ‘Information Form’ for claims related to Theatre Tax Relief, Orchestra Tax Relief, and Museums and Galleries Exhibition Tax Relief.

While the form aims to ease HMRC’s administrative load and combat abuse, it is likely to increase the administrative burden on charities.

Given the possible changes, it’s crucial to start preparing now to ensure a smooth transition come 1 January 2024.

You should always consult an accountant who is experienced in handling charity finances, but in the meantime, here are some practical steps to consider.

By taking these steps, you’ll be better positioned to navigate the new requirements without undue stress, ensuring that you continue to maximise the benefits of Cultural Tax Reliefs for your organisation.

It is always important to consult with your financial adviser and accountant on these matters as they can advise on the best strategies to ensure your relief claims are accepted.

Speak to one of our team if you are worried about future regulatory or tax relief changes.


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