Could your organisation claim back costs for exhibitions?
The Museums and Galleries Exhibitions tax relief focuses on the production of exhibitions, it is the latest in a series of creative tax reliefs launched by the government to support the creative industries.
The scheme will allow museums and galleries to reclaim some of the cost of putting on exhibitions – whether temporary, permanent or touring. The aim is to support museums and galleries to develop new exhibitions for wider audiences.
Tax relief may be surrendered for a payable credit from HMRC and organisations need to demonstrate eligibility in a number of ways including status as a production company with qualifying exhibitions and expenditure.
This scheme offers real and significant financial benefits for museums and galleries, yet there are challenges to its adoption in respect of the scale of organization and type of arts and heritage provider including the artist-led.
YVAN is developing a programme to support small, medium sized and artist-led organisations to be able to access the scheme, in discussion with HMRC Tax Specialist Unit for the Creative Industries. More information on the support programme will be published soon.