Buzz Capital is pleased to confirm that it has recently closed what we hope will be the first of many Theatre Tax Credit deals to come.
Theatre Tax Relief is an incentive that the British government offers to theatre production companies and the scheme can be used to claim a tax rebate against the costs incurred during the production.
It is estimated on this particular deal that the borrower will get a potential cashflow benefit of up to 6 months with the loan from Buzz having been received before the Company accounts are prepared and submitted to HMRC and in the knowledge that, usually, the Theatre Tax Credit is then received by the Company around three months from submission of the corporation tax return. The latter being subject to repayment delays with HMRC.
With the Theatre Tax Credit rates set to change for accounting periods beginning 1st April 2023 Buzz can work alongside your accountant to illustrate how the tax credit could be calculated and then how such collateral can be used for a loan.
If your Company qualifies as a Theatre Production Company and also satisfies other qualifying criteria, should you wish to discuss our advance funding proposal then please do not hesitate to contact us. You could have up to 80% of the repayable tax credit now rather than waiting on the abovementioned progress which is particularly useful for theatrical productions that have long production schedules but, more commonly, on standard productions, it is helpful for general cash-flow purposes.
Stephen McGill of McGill Productions states:
“Fantastic working with Buzz Capital on this project. The first of many I’m sure. Joe, Alena, Marcus and the team have been a pleasure to deal with, the process was smooth & the team guided me throughout. I will be recommending their services to my fellow producers.”
Alena Walker of Buzz Capital states:
“Working with McGill Productions has been an absolute pleasure and Stephen brings many years of experience to the entertainment industry and has recently produced a series of concerts at the Theatre Royal. Buzz looks forward to working with Stephen again and we hope to connect with others in the industry looking for an equivalent offering.”
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