Anthony Pins, one of our senior partners and theatre expert, shares his thoughts on the recently announced Arts Council Cuts and the relationship with the soon to be introduced, Theatre Tax Relief.
The Arts Council cuts announced Tuesday will hopefully be tempered, to some extent, by the introduction of the new Theatre Tax Relief. The Treasury has made it clear that the intention is for the subsidised sector to be able to access the new relief, alongside the commercial sector, and the draft legislation mirrors that intention. An element of restructuring may be necessary for some organisations in order to make a claim for a tax credit, and affected companies should seek professional advice at an early stage to prepare themselves.
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