Having now come to the end of a full year of application, an estimated £25 million of theatre tax relief has been paid back to theatre companies from across the country by HMRC.
HMRC has released the first figures for this government tax relief scheme for theatres which was introduced in September 2014 following similar arrangements for film, high-end TV drama and animation.
Following the introduction of the scheme, HMRC approximated that the industry benefited from £5 million during the remainder of 2014/15, and £25 million in 2015/16.
The theatre tax relief measures mean touring shows are eligible to claim 25% tax relief on qualifying production costs, while other professional productions can claim back 20%. This has been welcomed by producing theatres, particularly those based in the regions outside London.
