HMRC have recently released their consultation for a proposed tax relief for Museums and Galleries.
The Government aims to encourage the creation of both temporary (<1 year) and touring exhibitions by providing a tax relief similar to tax reliefs already available in other sectors such as orchestras, theatres and video games. Whilst the value of the relief has yet to be confirmed, we can expect it to be worth up to 20% of qualifying expenditure.
HMRC are seeking the views of those in the museum and galleries sector to submit responses to the consultation by 28 October 2016. This is an opportunity to influence the drafting of the legislation and ensure the relief can work effectively for all the different types of museums, galleries and exhibitions.
If you want to submit a response, please go to: