Friend Partnership Limited

Do you know what your business is really worth?

Whether you're planning a sale, attracting investment, resolving a shareholder matter, undertaking succession planning, or simply looking to understand the value you've built, an accurate business valuation is essential.

Understanding value is often the first step towards creating more of it.
Find out more about our Business Valuation services: https://friendpartnership.com/business-valuation

Independent business valuation services tailored to you We offer expertise across accountancy, tax, corporate finance and forensic accounting to provide business valuations that are technically robust and independent

It was a pleasure to have our colleagues George Bradley and Daniel O'Brien attend The Stage's Future of Theatre Conference 2026 yesterday at Soho Theatre Walthamstow.

It was encouraging to hear such a diverse and passionate range of perspectives contributing to the conversation. Alongside the well-recognised challenges around funding cuts and their impact on the sector, discussions included how theatre can adapt to build crowds and cater to shifting audience expectations while becoming more inclusive and accessible from both the creative and commercial perspective.

As a firm of chartered accountants with over 40 years’ experience in live events, including theatre, we valued the opportunity to be part of these important discussions and to connect further with others across the industry.

Events like this highlight the importance of listening, evolving, and expanding who theatre is for as the sector moves forward.

Theatre Tax Relief: Supporting Creative Productions

Theatre Tax Relief offers valuable financial support to eligible production companies, enabling them to claim enhanced tax deductions or payable tax credits on qualifying expenditure. It’s a powerful way to reduce financial risk while improving cash flow across productions.

In the attached brochure, we outline:

➡️ The key qualifying criteria
➡️ What counts as core expenditure
➡️ The level of relief available, and
➡️ Working examples

If you’re involved in theatre production, understanding how to access this relief could make a meaningful difference to your project’s financial viability.

Theatre Tax Relief and the Global Stage

Read more on George Bradley's Guide to International Touring and find out why the UK is fast becoming a destination where international productions are choosing to tour.

https://friendpartnership.com/theatre-tax-relief-and-the-global-stage-a-guide-to-international-touring

Theatre Tax Relief and the Global Stage: A Guide to International Touring The most compelling reason to develop a show in the UK is the ability for foreign theatrical production companies to claim TTR, thus reducing the financial risks

Proving Your Production's British Identity

If you are producing a film, high-end television programme, animation, children’s television programme, or video game in the UK, you may be eligible to claim UK Audio-Visual Expenditure Credits (AVEC).

Find out more about the BFI Cultural Test on our website - https://friendpartnership.com/The-BFI-Test-Proving-Your-Productions-British-Identity

How BFI assesses the cultural makeup of your project Different sections of the test award points based on how your project meets the criteria, covering aspects such as content, contributions, location and crew.

𝐈𝐧𝐡𝐞𝐫𝐢𝐭𝐚𝐧𝐜𝐞 𝐓𝐚𝐱 𝐑𝐞𝐟𝐨𝐫𝐦: 𝐖𝐡𝐲 𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐜𝐞 𝐈𝐬 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐃𝐞𝐜𝐢𝐝𝐢𝐧𝐠 𝐅𝐚𝐜𝐭𝐨𝐫

The new rules introduced the concept of a “long-term resident”, which replaced domicile as the key test. Once an individual meets this threshold, their overseas assets can become exposed to UK inheritance tax.

https://friendpartnership.com/inheritance-tax-reform-why-residence-is-now-the-deciding-factor

Inheritance Tax Reform: Why Residence Is Now the Deciding Factor Under the new rules, the treatment of assets will depend on both their location and the individual’s UK residence history, replacing "domicile" as a key test

Payrolling Benefits in Kind: What is Changing?

Under the existing rules, employers must report taxable benefits and expenses using forms P11D and P11D(b). Under the upcoming rules, this will be done via payroll.

Read our latest article to find out how this will affect your business.

https://friendpartnership.com/payrolling-benefits-in-kind-what-is-changing

Payrolling Benefits in Kind: What is Changing? Communicating early with employees, so they understand how payrolling benefits in kind will affect their take-home pay and tax deductions is vital

Around 1 million people missed the deadline this year, despite digital tools, reminders and online filing, being available.

475,722 people filed on the final day out of a total of about 11.5 million submissions. Those who missed the deadline face an automatic £100 penalty.

https://www.bbc.co.uk/news/articles/c150882d9vzo

One million people miss HMRC tax return deadline The UK's tax authority says 27,456 people filed in the final hour before the cut-off at the end of Saturday.

Navigating UK Income Tax for Foreign Entertainers:

In the attached article, we explore the key UK income tax considerations foreign entertainers should be aware of.

Our Creative Industry team at Friend Partnership has a strong track record of advising international performers and their representatives. For any queries or initial discussions, you can contact us on 0121 633 2000

https://friendpartnership.com/uk-income-tax-for-foreign-actors-and-theatre-performers

What UK Income Is Taxable for International Entertainers? We explain how UK tax applies to foreign entertainers, how withholding tax operates, what types of income are covered, and how they can manage their tax

The January 31st deadline is fast approaching, and missing it could mean penalties, interest, and unnecessary stress.

Whether it’s:
✔️ Self Assessment tax returns or;
✔️ Payments on account

If you have not already done so, now is the time to make sure that everything is in order - that you have submitted your tax return, pay your tax bill or set up an Online Payment Plan .