Agenda item

Report of the Chief Operating & Financial Officer.

The Board considered a report of the Chief Operating & Financial Officer concerning the implications of the Government’s Museum and Galleries Tax Relief Scheme and proposing the formation of a limited company, with permission to trade and to become VAT registered, to allow the Barbican to participate.

RESOLVED: That approval be given for the formation of a wholly owned City Corporation subsidiary to benefit from the Museum and Galleries Tax Relief Scheme, including that officers be authorised to undertake the necessary administrative actions to allow the company to undertake trade and become

VAT registered.