D7.12103 Museums and galleries exhibition tax relief—overview
Exhibition tax relief is available to qualifying museum and gallery production companies and takes two forms, an additional allowable deduction and a repayable exhibition tax credit1.
Amount of relief
The additional deduction is the lower of the expenditure which is qualifying UK expenditure (this was European expenditure ie, UK or EEA qualifying expenditure prior to April 2024 – see below) or 80% of the total amount of qualifying expenditure2.
Transitional provisions are included in FA 2024, Sch 5, Pt 2, para 11 to facilitate the transition to UK expenditure in the above calculation. The changes have effect for accounting periods ending on or after 1 April 2024 but European expenditure incurred before 1 April 2024 can count as UK expenditure for these purposes3. Production companies with productions that enter production before 1 April 2024 may elect for European expenditure to count as UK expenditure for those productions up to 1 April 20254.
The payable tax credit is5:
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Web page updated on 17 Mar 2025 17:18