Business Tax: 2021/2022 Creative Tax Credit change from 20/25% to 45/50%

Article ID

business-tax-2021-2022-creative-tax-credit-change-from-20-25-to-45-50

Article Name

Business Tax: 2021/2022 Creative Tax Credit change from 20/25% to 45/50%

Created Date

10th March 2022

Product

Problem

IRIS Business Tax: 2021/2022 Creative tax credit change from 20/25% to 45/50%

Resolution

Affects companies claiming creative tax relief for theatrical productions, orchestral concerts and museum and gallery exhibitions. The Creative Tax Credit changed from 20/25% to 45/50%.

IRIS Business Tax will be updated later in 2022 (Release date to be confirmed) to add this new 45/50% calc. There is no workaround in BT for this and users will need to await the IRIS update.