The Museums and Galleries Exhibition Tax Relief (MGETR) is to be made permanent, the UK chancellor Jeremy Hunt has announced in his spring budget statement
Introduced in 2017, the tax relief has supported hundreds of museums and galleries across the UK with £59m invested.
The relief has supported 6,430 exhibitions of all sizes, from blockbuster shows attracting national and international audiences to displays at smaller museums engaging local communities.
The tax relief had been due to expire on 31 March 2026 but the chancellor confirmed in today’s budget statement that it will be made permanent.
The measure enables museums and galleries to claim tax relief on the costs associated with setting up an exhibition, including production, installation and, where the exhibition lasted 12 months or less, deinstallation.
For the financial year 2024-25, the MGETR will provide a higher rate of 45% tax relief for touring productions and 40% relief for non-touring productions, with the maximum cash repayment per exhibition capped at £80,000 and £100,000 respectively.
It is hoped that the removal of the sunset clause will enable smaller organisations to confidently explore claiming the relief.
Museum leaders across the UK have welcomed the news.
“We are delighted that this much-needed tax relief is now being made permanent," said Sharon Heal, director of the Museums Association.
“Museums and galleries of all sizes across the UK have benefitted from the additional support that it has given the sector. The tax relief has enabled museums and galleries to develop engaging exhibitions that have a huge social and economic benefit for their local communities and wider audiences.”
Maria Balshaw, chair of the National Museum Directors’ Council and director of Tate, said: “I want to thank the chancellor, Jeremy Hunt and culture secretary, Lucy Frazer for responding to the concerns of museums and the visual arts sector by extending this vital tax relief. It supports the making of exhibitions that directly benefit the public across the whole of the UK.
Main Image :Chancellor Jeremy Hunt leaves 11 Downing Street to deliver his spring budget statement on 6 March 2024 Picture by Simon Dawson / No 10 Downing Stree
Anna Melnykova, "Palace of Labor (palats praci), architector I. Pretro, 1916", shot with analog Canon camera, 35 mm Fuji film in March 2022.
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