We received confirmation yesterday that the government will publish a Finance Bill after the summer parliamentary recess, signalling that Museums and Galleries Tax Relief is back on track for launch this year.
This new Finance Bill will re-introduce all of the provisions previously withdrawn from the Finance Act 2017, which was significantly slimmed down owing to the snap General Election. Museums and Galleries Tax Relief was one of the provisions dropped from the Act.
It has been confirmed that the starting dates for the provisions reintroduced into the new Bill will remain as originally announced. This would imply that the tax relief will be effective from 1 April 2017, as previously announced.
You can read more about the forthcoming Museums and Galleries Tax Relief in our blog by Catriona Finnie, Assistant Tax Manager. Alternatively we have a free Comment On factsheet about the relief available to download here.
If you have any questions, you can contact Catriona on 0131 558 5800 or firstname.lastname@example.org.