As announced by the Chancellor in the Autumn Budget 2021, rates of relief for cultural tax reliefs are temporarily doubling with effect from 27 October 2021. However, neither the Chancellor’s speech nor the HMRC announcement mentioned the cap that applies to museums and galleries claims.

The cap is fixed at £100,000 for touring exhibitions and £80,000 for non-touring exhibitions. Although this is undoubtedly useful for many organisations, larger exhibitions can cost millions of pounds to deliver, and the temporary doubling of the relief will not provide any benefit.

HMRC has now confirmed that there is no intention to increase the cap.

Will museums and galleries really benefit?