The government has just announced that the temporary higher rates of theatre, orchestra, and museums and galleries tax reliefs won't, as planned, return to pre-Covid levels after the 31st March 2025. New and permanently higher rates will be introduced from the 1st April 2025. The new rates will be:
- 45% for OTR; TTR - touring and MGETR - touring, and
- 40% for TTR - non-touring and MGETR - non-touring.
Full details can be found here: Spring Budget 2024