The Government Needs To Keep The VAT Rate on Tickets At 5% For The Next Three Years
This has been one of the most difficult years ever for the live music industry, with a reduction of more than 80% in revenue across the industry. As one of the first industries to close and likely the last to reopen, the Cultural Recovery Fund was a lifeline for some businesses in our industry.
Alongside the CRF was a promised reduction in the rate of VAT on tickets sales down to 5%. This reduction would have kept over £300 million in our industry as we start to see a road out of this pandemic.
Recently, reports appeared in the press that just at the moment we could be about to start selling tickets again, the Government is planning to raise VAT. Reversing this policy before we have been able to sell tickets in any meaningful volume would take millions from our industry when we need it the most.
Live Music need your help to make sure the Government hears how vital this reduction in VAT is for the industry in the run up to the Budget at the beginning of March.
You to do three very simple things:
1. Email your MP
2. Spread the Message
. Post your support on Thursday 4 Feb from 9am #KeepVATat5
More information can be found here:
COVID-19 News, General News