Tax Relief: Theatres, Orchestras and Museums & Galleries
Arts & Business Scotland has been working in partnership with Scott-Moncrieff, Scotland’s oldest accountancy firm, to provide cultural organisations with invaluable tax advice.
As part of this three year partnership, tax guides have been developed accompanied by associated training workshops. This in-kind sponsorship arrangement between A&BS and Scott-Moncrieff sets out to provide charitable cultural organisations across Scotland with the latest information on making the most of the tax benefits they are eligible for.
In addition, Scott-Moncrieff has been providing A&BS with the latest news on tax law amendments as they appear. A series of tax tips from Scott Moncrieff covering Theatre Tax Relief, Orchestra Tax Relief and Museums & Galleries Tax Relief are available to download below.
The most recent guide, Charity Tax Budget 2018 Update, outlines changes which benefit charities including a corporation tax small scale trading exemption and an increase in Gift Aid Small Donation Scheme limits. The Charity Tax Budget 2018 Update can be accessed here.
Additional advisory tax soundbites will continue to be added as and when tax law changes may arise.
Principal members Scott-Moncrieff is one of Scotland’s leading independent firms of chartered accountants and business advisers. Their expertise encompasses financial assurance, risk management, improving performance, taxation and wealth management. Accuracy and attention to detail are a given. But they're also open-minded, flexible and forward thinking.
Scott-Moncrieff has had a successful charities practice for 25 years and is established as Scotland’s leading not-for-profit adviser. Their specialists have a wide-ranging and comprehensive knowledge of the issues facing the sector and are recognised as experts in their field. Many of their staff serve as trustees on charity boards.