Orchestra tax relief - it's not just about orchestras
HMRC - Orchestra Tax Relief Manual
Do you know that a new tax relief is available for orchestral productions from 1 April 2016? Did you know that you don't necessarily have to be a 30-plus ensemble to qualify? Are you part of a larger string group, or wind or brass band that could also benefit from the tax relief?
Watch this webinar given by the HMRC experts who designed the relief to find out more.
More about orchestra tax relief
The Government’s orchestral tax relief has been implemented after the 2016 Finance Act passed through Parliament and was given Royal Assent on 19 September.
The relief was first proposed following lobbying by the Association of British Orchestras (ABO) and supported by the ISM and others across the music sector.
The good news is that the Government listened to lobbying by the ISM by reducing the minimum ensemble size eligible for tax relief from 14 to 12 musicians, and only requiring a minimum of one orchestral instrument to be included rather than four, allowing larger string groups, and wind and brass bands to be covered.
Deborah Annetts, Chief Executive of the ISM has welcomed the implementation but added:
'We hope in due course the relief will be expanded to include choral groups, smaller acoustic ensembles and the production of new music.’