Date: Wednesday April 10th 2024.
Time: 1pm – 2pm
Location: Zoom
Theatre and Dance NI are pleased to host again this very important training to provide you with the knowledge of how to benefit financially from Theatre Tax Relief.
The training will cover:
- What is Theatre Tax Relief?
- How is it calculated?
- Time limits
- Qualifying Conditions
- Touring and non-touring productions
- How do you claim
- Income calculation for TTR
- Breaking down your expenditure into phases – developing, producing, running, and closing the production
- Common issues
Theatre Tax Relief has been in existence since 2014. Its intention was to help boost the live performing arts economy in the way that a similar tax relief has helped the film industry. Even if you do not make a profit, or are a charity, you could be eligible for Theatre Tax Relief. Theatre Tax Relief works by increasing the amount of allowable expenditure; where your company makes a loss, you may be able to surrender the loss and convert some or all of it into a payable tax credit. You will also be able to add to your non restricted income.
By claiming Theatre Tax Relief a production company can reduce its pre-performance costs by 20-25%. Surveyed SOLT and UK Theatre members have said Theatre Tax Relief had in the last financial year saved them a total value of £85,686,881 in relief claimed.
The session will be facilitated by Matthew Ashwood and Steven Atkinson.
Matthew Ashwood is a certified accountant who has worked with clients throughout the entertainment industry for over 20 years. As a principal in boutique accountancy firm, Two Matts LLP, he works with actors, actresses, directors, producers, theatres, and multiple other businesses that support the entertainment sector. Two Matts offer services throughout the UK to individuals, partnerships, companies, and charities.
Steven Atkinson is an award-winning British producer working in theatre and film. He produces through Long Acre Arts, a UK film and theatre production company dedicated to commissioning exceptional diverse storytellers, and Roots, Yorkshire’s queer touring theatre. Currently he is Digital Producer for Original Theatre and a Consultant for Theatre and Dance NI.
As part of our commitment to inclusion and accessibility, Theatre and Dance NI is offering a Pay What You Can ticket scheme for this event. We invite you to select the ticket price that best applies to you and your own financial circumstances. Our standard ticket price is usually £15 for members or £25 for non-members. If you can pay the standard ticket price, this contribution helps us towards sustaining this approach and ensuring affordability for others who cannot meet the recommended price, whilst contributing towards making these important industry training events possible.