Finance (No. 2) Act 2024
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Change 1
16 Increase in theatre tax credit
(1) In section 1217K(4) of CTA 2009 (amount of theatre tax credit)— (a) in paragraph (a), for “25%” substitute “45%”, and (b) in paragraph (b), for “20%” substitute “40%”. (2) In section 17 of FA 2022 (which provided for a temporary increase in the amount of theatre tax credit)— (a) omit subsection (3), and (b) in subsection (4), for “, 1 April 2025 or 1 April 2026” substitute “or 1 April 2025”. (3) The amendments made by this section have effect in relation to accounting periods beginning on or after 1 April 2025 (but see section 17(4) of FA 2022 for accounting periods which straddle that date).
16 Increase in theatre tax credit
(1) In section 1217K(4) of CTA 2009 (amount of theatre tax credit)— (a) in paragraph (a), for “25%” substitute “45%”, and (b) in paragraph (b), for “20%” substitute “40%”. (2) In section 17 of FA 2022 (which provided for a temporary increase in the amount of theatre tax credit)— (a) omit subsection (3), and (b) in subsection (4), for “, 1 April 2025 or 1 April 2026” substitute “or 1 April 2025”. (3) The amendments made by this section have effect in relation to accounting periods beginning on or after 1 April 2025 (but see section 17(4) of FA 2022 for accounting periods which straddle that date).
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