Date: 19th May 2015
Venue: Lumen URC, 88 Tavistock Place, London, WC1H 9RS
In September 2014, a new Theatre Tax Relief was introduced by the government aiming to boost the live performing arts economy. This relief enables eligible companies (and charities) to claim back up to 25% of eligible creation costs of new shows. The tax credit is made either as an additional corporation tax deduction or as a payable tax credit. There are a number of eligibility requirements, and legal complexities involved with putting in a claim for the relief, and so XTRAX, Without Walls and ISAN, have got together to collaborate on a free event aimed at simplifying and demystifying the process for companies that specifically work outdoors.
The 2-hour seminar was hosted by Sean Egan a legal and financial consultant, who has been working directly with HMRC and the ITC to develop the process and clarify the issues around the relief. At the event, Sean presented the basic principles of the relief using examples, and answered specific questions from those in attendance with a particular focus on outdoor arts.
This seminar was organised to give the right information to companies that thought they were eligible, before they submitted their end of year accounts (the point at which the claim would have to be made).