United Kingdom

Details

  • Service: Tax, Budget 2014
  • Industry: Leisure
  • Type: Press release
  • Date: 19/03/2014

Budget 2014: Chancellor says “bravo” as he announces tax breaks 

Wednesday 19th March 2014

 

Commenting on the announcement of tax incentives for theatre productions announced in today’s Budget, Carol Johnson, Tax Director in the Innovation Reliefs and Incentives Group at KPMG in the UK, said: “Today’s announcement of a 25 percent payable credit on qualifying regional touring productions and a 20 percent payable credit on all other qualifying productions is great news for the British theatre industry which has produced such global smash hits as Mamma Mia, Matilda and the History Boys to name a few.  The full details haven’t been released yet but our understanding is that they will apply to a wide range of theatre productions (including plays, musicals, dance and opera) and to qualify, the productions should either be new works or regional touring productions.

 

“In other creative industries tax relief announcements today, the Chancellor confirmed EU approval for imminent changes to the rules relating to film tax relief and to similar breaks for the video games industry on which the government continues to press for EU clearance.”

 

-Ends-


 

Follow us on twitter: @kpmguk #budget2014

 

www.kpmg.com/uk/budget2014

 

For further information please contact:

 

KPMG Press office

 

Tel:  +44 (0) 207 694 8773

 

Margot Cowhig, KPMG Corporate Communications

 

Mobile: 07920 274856

 

margot.cowhig@kpmg.co.uk

 

About KPMG:

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

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Margot Cowhig

Margot Cowhig

Senior PR Manager - Tax, Pensions & Economics

KPMG in the UK

020 7694 4246 / 07920 274856

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