Cultural Relief Rate Rises for Theatre, Orchestra, and Museums and Galleries Exhibition Tax reliefs

The rates for three corporation tax releifs are being raised; these are collectively referred to as the ‘cultural reliefs’: Theatre Tax Relief (TTR), Orchestra Tax Relief (OTR), and Museums and Galleries Exhibition Tax Relief (MGETR).

The government intends to increase the rates of the cultural reliefs for the next two years. A breakdown of this can be seen in the table below:

Rate %

Current Rates

From 27 October 2021 to 31 March 2023

2023 to 2024

2024 to 2025 (and onwards)

TTR

20/25

45/50

30/35

20/25

OTR

25

50

35

25

MGETR

20/25

45/50

30/35

20/25