Hello there, Pamela.
Allow me to share some insights on handling Museums and Galleries Exhibition Tax Relief (MGETR) through QuickBooks Online (QBO).
To record MGETR in QBO, it’s important to note that QBO does not have a built-in feature for this specific corporation tax relief. The relief must be claimed through your company's Corporation Tax return (CT600) outside of QBO.
Due to the complexity of MGETR calculations (e.g., determining enhanced expenditure, touring rates, loss surrender rates), it is highly recommended to work with a tax advisor or an accountant who specialises in creative industry tax reliefs.
Don't hesitate to add any details if you need further assistance with handling your QBO account. We're always here to help you.
