Treasury seeks views on new tax relief for museums and galleries
Measure set to benefit temporary and touring exhibitions
The Treasury has launched a UK-wide consultation on the tax relief that is due to be introduced for museums and galleries from April 2017.
The new tax relief, which was first announced in this year’s budget, will enable museums and galleries to claim tax deductions on the creative and set-up costs of temporary and touring exhibitions.
These include curator and research costs, installation costs, costs relating to loans, insurance and transport, digital spending, venue and equipment costs and administration linked to the exhibition. The tax relief excludes running costs and other fees such as legal, marketing and storage costs.
The measure is intended to support museums to develop creative new exhibitions and display collections to a wider audience, as well as encouraging more touring exhibitions across the UK and abroad.
The consultation aims to ensure that the tax relief works well for the museum and gallery sector, benefits the appropriate institutions and is straightforward and simple to use.
The government is seeking feedback on key design features of the proposed relief, including criteria for eligibility, proposed definitions and characteristics of qualifying institutions and exhibitions, and qualifying ‘core’ expenditure on which the relief can be claimed.
Views are invited from a wide range of respondents, particularly those working directly within the museum and gallery sector.
The exact rate of tax relief available will be confirmed after the consultation.
Responses should be emailed to museumsandgalleriestaxrelief@hmtreasury.gsi.gov.uk or sent by post to:
Museums and Galleries Tax Relief Consultation
Enterprise and Property Tax Team
HM Treasury
1 Horse Guards Road
London SW1A 2HQ
The consultation closes on 28 October.
The new tax relief, which was first announced in this year’s budget, will enable museums and galleries to claim tax deductions on the creative and set-up costs of temporary and touring exhibitions.
These include curator and research costs, installation costs, costs relating to loans, insurance and transport, digital spending, venue and equipment costs and administration linked to the exhibition. The tax relief excludes running costs and other fees such as legal, marketing and storage costs.
The measure is intended to support museums to develop creative new exhibitions and display collections to a wider audience, as well as encouraging more touring exhibitions across the UK and abroad.
The consultation aims to ensure that the tax relief works well for the museum and gallery sector, benefits the appropriate institutions and is straightforward and simple to use.
The government is seeking feedback on key design features of the proposed relief, including criteria for eligibility, proposed definitions and characteristics of qualifying institutions and exhibitions, and qualifying ‘core’ expenditure on which the relief can be claimed.
Views are invited from a wide range of respondents, particularly those working directly within the museum and gallery sector.
The exact rate of tax relief available will be confirmed after the consultation.
Responses should be emailed to museumsandgalleriestaxrelief@hmtreasury.gsi.gov.uk or sent by post to:
Museums and Galleries Tax Relief Consultation
Enterprise and Property Tax Team
HM Treasury
1 Horse Guards Road
London SW1A 2HQ
The consultation closes on 28 October.