Christopher BarrettThe new culture secretary Nadine Dorries has confirmed that the increase in VAT on live event tickets from 5% to 12.5% will go ahead in October.
Asked in the House of Commons by Conservative MP David Warburton if the Government would consider a permanent extension of the VAT relief on tickets to aid the sector’s recovery following a “challenging 18 months”, Dorries said the VAT increase would go ahead from 30 September.
She said, “I will be working closely with the chancellor to discuss the support required for the live events sector, the 5% rate on VAT for event tickets has been extended until the 30 September 2021 when the 12.5% reduced rate will be introduced until March 2022.
“We have already provided £21 million to festivals and £2.5 million to grassroots music venues through the Cultural Recovery Fund and the Reinsurance Scheme is designed to support the continuation of live events.”