Question to the HM Treasury:

To ask the Chancellor of the Exchequer, is he will make an assessment of the potential merits of extending Theatre Tax Relief after 2025.

The Government recognises the value of the UK’s world leading creative industries and arts sectors.

At Spring Budget 2023, the Government went further to support theatres through the creative industry tax reliefs.

To continue to offset ongoing pressures and boost investment in our cultural sectors, the Government announced a 2-year extension to the current 45 per cent (for non-touring productions) and 50 per cent (for touring productions) rates of theatre tax relief.

These rates will now taper to 30 per cent/35 per cent on 1April 2025 and return to 20 per cent/25 per cent on 1 April 2026.

The Government keeps the tax system under continuous review. Any changes to tax reliefs will be communicated through the normal fiscal event process.