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Finance News

Finance News from the Association of Festival Organisers.

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More news on applying for the Additional Restrictions Grant (ARG)

More news on applying for the Additional Restrictions Grant (ARG)

17th March 2021

You might qualify – you need to ask your local authority NOW 66 Councils who have given out Additional Restrictions Grant (ARG) to those without Business Premises (it was 17, then 34, then 42, not it’s 66 and rising) Some of those councils’ grants may have closed but are still good examples to quote to other councils, of what they did.  Others may still be open to appl...

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Insurance for pandemic in the future

Insurance for pandemic in the future

17th December 2020

This seems to be top of everybody’s list for consideration.  Will we go ahead without insurance?  How will we cover such things as complete closure if government decide that the pandemic has overtaken us again? In association with AIF, EIF, LIVE and many other organisations we have made major approaches to MPs, Ministers and parliament to try and get government interested in und...

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Guidance On VAT Reduction, Extension And Yes, It Does Cover Festivals.

Guidance On VAT Reduction, Extension And Yes, It Does Cover Festivals.

8th December 2020

For attractions (read festivals), then sell tickets now The following update is guidance on VAT reduction, extension and yes, it does cover festivals. The guidance on reduced VAT for hospitality, holiday accommodation and attractions has been updated to reflect the extension in VAT reduction to 5% until 31 March 2021 for certain supplies relating to hospitality, hotel and holiday accommodati...

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Business Rate On Festival and Event Sites - Action needed

Business Rate On Festival and Event Sites - Action needed

18th November 2020

Some festivals especially green field sites will in recent years have had notification of a charge for business rates either from the landowner or direct from the local authority. A revaluation exercise is now underway and will result in a Revaluation of all business premises , including festival sites on 1st March 2023. The key valuation date for this review is however 1st April 2021.&nbs...

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VAT Notice From HMRC

VAT Notice From HMRC

28th September 2020

HMRC has produced new guidance in relation to the Chancellors announcement yesterday that these businesses that deferred VAT payments from 20 March to 30 June 2020 will not now have to pay the full amount by the end of March 2021. Under the arrangements announced yesterday, businesses will have the option to make smaller interest-free payments up to the end of March 2022. To take advantage of this...

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And you thought BREXIT was over

And you thought BREXIT was over

16th January 2020

Whichever way you voted in the BREXIT fun and games, it will soon come home to roost.  January 31 and then the next twelve months of haggling and wrangling.  We know from previous correspondence and articles in the press that musicians are getting very worried about how their right to roam around Europe looking for work will certainly change. We did wonder whether not being in the Eur...

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Fairer Funding for Festivals

Fairer Funding for Festivals

17th June 2019

It is interesting to note that National Lottery Funds are raised from the sale of tickets in shops and premises throughout the nation.  However, most of the tickets are purchased in areas of the country that are less fortunate than, for instance, Central London. Would it not be fairer for National Lottery Funds to be distributed in proportion to the amount of money spend on the ticket...

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Supporting Grassroots Live Music

Supporting Grassroots Live Music

4th June 2019

Supporting Grassroots Live Music fund. This funding will be available to support applicants whose work is focused on hosting and promoting live music events in venues. The money has been ringfenced to enable additional support to small music venues and promoters We are primarily interested in supporting projects that take place in small to medium sized grassroots music venues...

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Attention SE Members - Do you write, programme or perform Folk, Traditional, World and Roots music?

Attention SE Members - Do you write, programme or perform Folk, Traditional, World and Roots music?

6th March 2019

Book an informal session with the Arts Council and find out if we can offer any support.    The ACE South East Music Team is holding a day of 1-2-1 funding advice surgeries on Wednesday 3 April 2019 aimed at artists and organisations in the Folk, Traditional, World and Roots sectors in the South East (Please note, our area does not cover London-based applicants). The 1...

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Insurance for Pandemic in the future

Insurance for Pandemic in the future

17th December 2018

This seems to be top of everybody’s list for consideration.  Will we go ahead without insurance?  How will we cover such things as complete closure if government decide that the pandemic has overtaken us again? In association with AIF, EIF, LIVE and many other organisations we have made major approaches to MPs, Ministers and parliament to try and get government interested in und...

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A Tax Reminder

A Tax Reminder

16th May 2018

Readers from some time back will remember that in January 2017 I put an article out through AFO News about HM Revenue and Customs VAT Office asking us to ensure that stall rents, market traders, caterers etc. were charged VAT for those festivals that are registered for VAT. This is simply a reminder. I repeat the article here as there has been some recent evidence in the news that the HM VAT Of...

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Times they are a-changing. AFO’s Steve Heap, talks

Times they are a-changing. AFO’s Steve Heap, talks

22nd March 2018

There was a time when the events industry stood on its own two feet; just sell a few tickets, pay the bills and all was well. I think that may well be in the dim and distant past. Now most of us need grant funding or sponsors and certainly a lot of ticket sales. The days of relatively low budget equipment for your site and artists for your stage are well and truly over. I’m...

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Government quietly introduce insurance increased costs

Government quietly introduce insurance increased costs

26th May 2017

When governments declare budgets, usually in March or April they trumpet the important bits and somehow manage to slip through all kinds of tiny changes that affect people at a later date. One of those ‘tiny changes’ introduced by the government as at 22 May 2017 was an increase in Insurance Premium Tax, which has now gone to 12% from 1 June 2017. For example, if your public liab...

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Registered for VAT? You must add VAT onto your traders and caterers pitch fee

Registered for VAT? You must add VAT onto your traders and caterers pitch fee

14th March 2017

If you are registered for VAT are you charging your traders, caterers and market stalls the right amount?  HM Revenue & Customs (HMRC) wants their share of the cake.  HMRC VAT office has made a ruling, supported by a test case in English courts, resulting in the need to charge VAT at the standard rate (currently 20% of total figure at March 2017) on rent and concession/tender rate...

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Tax, VAT and Accounting Advice

Tax, VAT and Accounting Advice

4th March 2017

AFO is delighted to be able to offer to membership advice on “the money”. Our good friends at APS Accountancy in Aylesbury, Buckinghamshire and Dunstable, Bedfordshire are offering a similar service to that of Jon Payne at LSL Solicitors.  i.e. an email enquiry could deliver by return a simple answer to your question on financial matters. Over and above that, APS i...

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