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S1218ZCH, S1218ZCJ and S1218ZCK Corporation Tax Act 2009 (CTA 2009)

A Museums and Galleries Exhibition Production Company (MGEPC) has the option of claiming Museums and Galleries Exhibition Tax Relief (MGETR) in the form of a Museums and Galleries Exhibition Tax Credit (MGETC) paid directly by HMRC.  It can do so in any period in which it has a surrenderable loss.

»Ê¹ÚÌåÓýapp MGEPC may surrender all or part of its surrenderable loss.

»Ê¹ÚÌåÓýapp amount of the surrenderable loss

»Ê¹ÚÌåÓýapp amount of the surrenderable loss for a MGEPC, for an accounting period, is the lesser of:

• the amount of the available loss of the separate exhibition trade for the accounting period, and
• the available qualifying expenditure for that period.

»Ê¹ÚÌåÓýapp company’s available loss is the sum of the loss for the period, plus any relevant unused loss brought forward.

»Ê¹ÚÌåÓýapp relevant unused loss brought forward is any available loss for previous periods that has not been set against profits of the separate exhibition trade, nor surrendered for MGETC.

»Ê¹ÚÌåÓýapp available qualifying expenditure is the enhanceable expenditure to date less the total amount previously surrendered.

»Ê¹ÚÌåÓýapp amount of Museums and Galleries Exhibition Tax Credit

»Ê¹ÚÌåÓýapp amount of the payment is the MGETC rate multiplied by the amount of loss surrendered.

Prior to 1 April 2025, the MGETC rate is 20% for non-touring exhibitions or 25% for touring exhibitions, unless the temporary uplifted rates apply. From 1 April 2025, the rate is 40% for non-touring exhibitions and 45% for touring exhibitions. See MGETR10090.

»Ê¹ÚÌåÓýapp amount of the payment is capped to a maximum per exhibition:

• £80,000 for a non-touring exhibition
• £100,000 for a touring exhibition