djBsL4O9
type: Answer
type: WrittenAnswer
answer has question: zwia14F1
answer has answering person: 0J37XN5v
answer text: Orchestras are a crucial part of the UK arts sector. That is why at Spring Budget 2023, the government went further to support orchestras by announcing a 2-year extension to the current 45% (for non-touring productions) and 50% (for touring productions) rates of orchestra tax relief (OTR). From April 2024, qualifying expenditure for OTR will be that incurred on goods and services used or consumed in the UK. To qualify, 10% of expenditure on a production must be incurred on goods or services that are used or consumed in the UK. This is a significant decrease from the current requirement for 25% of expenditure to be incurred on goods or services in the UK or EEA. The government expects this will support companies in adjusting to the new rules.
answer given date: 2023-11-14+00:00
answer has answering body: HYfypSOE
written answer has answering body: HYfypSOE