HMRC has updated its guidance on how to qualify and claim for 7 Corporation Tax creative industry tax reliefs, including Orchestra Tax Relief and Theatre Tax Relief.
The guidance has been updated to advise companies that if they receive more than €500,000 a year in state aid, certain details will be published on the European Commission website.
Information has been added about the Orchestra Tax Relief and the guidance now states:
OTR is available from 1 April 2016. Your company will be entitled to claim OTRif it is a qualifying orchestra production company putting on qualifying orchestral concert.
A qualifying orchestral concert is one which:
- is performed by instrumentalists in an orchestra, ensemble, group or band
- consists of a minimum of 12 instrumentalists
- all or the majority of the instruments must not be electronically amplified
- instrumentalists must be the primary focus of the concert
- the primary focus is to play before the paying public or for educational purposes
- has a minimum 25% EEA expenditure
- has no need for a cultural test