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Orchestra tax relief

The Orchestra tax relief applies to expenditure after 31 March 2016.

Updated 30 June 2019

The orchestra tax relief operates on a similar basis to other creative tax credits, with an additional deduction of up to 80% of total qualifying expenditure. To the extent that this results in a loss, it can be surrendered for a ‘payable tax credit’ at the rate of 25%.

Key features of the relief include:

Notable exclusions include:

Qualifying companies can claim for an orchestral concert or a series of such concerts, either:

An additional tax deduction of 100% of…

or, if a loss is surrendered: 25% of the loss up to the amount of the lesser of EEA qualifying expenditure and 80% of qualifying expenditure

An orchestral concert means a concert by an orchestra, ensemble, group or band consisting wholly or mainly of instrumentalists who are the primary focus of the concert.

Qualifying expenditure does not include:

The maximum payable in the case of any undertaking is 50m Euros per year.

 

Please speak to your usual Shipleys contact or one of our experts to determine what you need to do next. Specific advice should be obtained before taking action, or refraining from taking action, on the basis of this information.

Copyright © Shipleys LLP 2019

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