Theatre Tax Relief extended to 2025

Theatres Trust welcomes the announcement that was made as part of the Spring Budget 2023.

The Chancellor has announced that the higher rates of Theatre Tax Relief (TTR) will be extended for a further two years.

The temporary higher relief rates will be 45% for non-touring productions and 50% for touring productions until 31 March 2025.

From 1 April 2025, the rates will be 30% and 35%, and on 1 April 2026 the rates will return to 20% and 25%.

Theatres Trust Director Jon Morgan says “Theatres Trust welcomes the extension of the Theatres Tax Relief and the Chancellor’s recognition of the vital role of culture to the UK’s economy and international reputation. This investment will provide a much need boost for producers as the sector recovers from the impacts of the pandemic and faces the cost-of-living crisis. We look forward to working with the government and colleagues across the sector to ensure that theatres can continue to contribute to the vitality of the country.”