Theatre Tax Relief cash flow loans launched for theatre companies

Theatre organisations will be able to apply for loans to help them manage cash flow challenges related to Theatre Tax Relief (TTR) under a new scheme.

Launched by sector support organisation Figurative, the scheme will utilise £2m of ring-fenced funding from its Arts & Culture Impact Fund to support not-for-profit UK theatre organisations that can demonstrate social impact.

TTR was introduced in 2014 as a creative industry tax relief funded by government, but organisations can often face cash flow challenges while waiting for funds to arrive from HMRC.

Figurative said the unsecured loans, ranging from £100,000 to £500,000, will have a low interest rate with flexible repayment terms. The proceeds will be ring-fenced and reinvested, with the aim of broadening the offer to include Orchestra Tax Relief and Museums and Galleries Exhibition Tax Relief.

Fran Sanderson, CEO of Figurative, said, “TTR has been a well-scoped and implemented gamechanger for the industry, but organisations can struggle with cashflow due to expenditure incurred well before claims are processed.

“Our TTR cashflow loans will help take the financial strain off organisations and allow them to continue producing brilliant work without the worry of cashflow shortfalls.”