Menu Close

HMRC releases Creative Industries Statistics 2018 for Theatre Tax Relief

HMRC just published their annual report on Creatives Industries, which includes some very interesting data on Theatre Tax Relief.

screen capture gov.uk

https://www.gov.uk/government/statistics/creative-industries-statistics-july-2018 

Some excerpts from the document:

Since the relief was introduced, £137 million in TTR has been paid out relating to 1,670 claims, which represents 4,680 productions.

Number of productions’ Theatre Tax Relief claims for Touring vs Non-touring productions in 2017-2018

A majority of Theatre Tax Relief claims are for non-touring productions.

Source: HMRC Management Information Systems (MIS)

In 2017-18, £77 million was paid out relating to 910 claims. Since each claim may relate to more than one production, this represents a total of 2,980 productions, of which 1,140 were touring and 1,840 were non-touring.

Number of Theatre Tax Relief Claims by size in 2017-2018

Source: HMRC Management Information Systems (MIS)

A Theatre Tax Relief Claim is annual (through annual corporation tax return) and one single claim can aggregate several productions. E.g. a claim fo £150k could be for 3 productions for an average of £50k per production.

The majority of claims are for smaller amounts, with 36% of all claims being for £10,000 or less in 2017-18. These claims however only represent 2% of the total amount paid out.
In 2017-18, claims over £250,000 represented just 8% of the number of claims made but 64% of the total amount paid out.

Claimed vs Paid success rate for Theatre Tax Relief Claims in 2016-2017

84% of the productions’ claims were successful in 2016-2017

Source: HMRC Management Information Systems (MIS)

Leave a Reply

Your e-mail address will not be published. Required fields are marked *