»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp production company should indicate that it is claiming Museums and Galleries Exhibition Tax Relief (MGETR) using the software with which it is submitting its return. Returns must be filed online. It should complete the relevant boxes below:

Description	CT600 box number
Tax due	525
Creatives tax credit	540
Amount claimed	545
Amount payable	570
Creatives core expenditure (not supported by all software)	663
Creatives additional deduction	665
Enhanced expenditure	670
Payable creatives tax credit	885

Please note that CT600 Version 1 does not provide the relevant boxes needed to claim MGETR.  CT600 Version 2 can only be used for accounting periods starting before 1 April 2015. 

»Ê¹ÚÌåÓýapp company should also tick boxes 650 and 658 to confirm it has completed an additional information form. Some software does not include these boxes.

Example

A production company incurs total expenditure of £250k on a qualifying exhibition.  Of this expenditure, £200k is core expenditure.  £150k (75%) of that core expenditure is UK expenditure and £50k (25%) is non-UK expenditure.  »Ê¹ÚÌåÓýapp company is entitled to the following deductions:

• £250k 'ordinary' deduction for all the expenditure incurred in the separate exhibition trade, plus
• £150k additional deduction (the core UK expenditure is less than 80% of £250k, so it all qualifies)

giving a total deduction of £400k.

»Ê¹ÚÌåÓýapp figure that should be entered in box 663 (if it is supported by the software used) is the core expenditure, £200k. »Ê¹ÚÌåÓýapp figure that should be entered in box 665 is £150k: the amount of the additional deduction.

See Chapter 7 for more details of the calculation.

»Ê¹ÚÌåÓýapp tax credit

If the company is claiming a payable Museums and Galleries Exhibition Tax Credit (MGETC), then it should enter the gross amount of the tax credit (before any payment of tax is due) in box 885.

See HMRC's guide for more information about the CT600 form.