Gordon Brown?s annual Pre-Budget Report has offered a ray of light to museums anxious about the loss of revenue from claims of Gift Aid on museum entrance charges. From April 2006, museums wishing to claim Gift Aid on entrance charges will need to ask visitors to pay an additional 10% on top of the entrance fee or to pay for annual admission. If visitors comply, museums will be able to reclaim Gift Aid on the whole sum (currently set at 28p in £1).
Film tax incentives also came under the spotlight in the Report, with the announcement of a review of Section 42, a tax break used to encourage big budget film production in the UK. The review will immediately stop Section 42 being used in conjunction with other tax breaks, a practice known as ?double-dipping?. The UK Film Council welcomed the announcement as a means of clearing red tape and offering an end to ?unwieldy leasing arrangements to fund film production.?
Published: 13-12-2004