Music industry demands tax credits
British Phonographic Industry calls for members to receive R&D credits other businesses can apply for
A leading music body has called for tax concessions in return for finding the
country’s next singing sensation.
The British Phonographic Industry (BPI) wants members to receive tax credits
in the same way other businesses do for conducting research.
The representative association said that music-makers should be in line for
the Treasury’s research and development advantages because they spent up to 17
per cent of turnover on sourcing new artists, the BBC reported.
Chairman Peter Jamieson believes that such a system would lead to ‘greater
development’ in new music.