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Trade bodies back #KeepVATat5
Find out more about getting involved at www.livemusic.biz/campaigns
UK - Leading trade associations have backed a campaign to keep UK’s VAT rate on ticket sales at 5% to aid the live events sector’s recovery. Last July, the government temporarily slashed the VAT rate to 5% from the standard rate of 20% to support businesses severely affected by the pandemic. The cut currently applies until 31 March 2021. #KeepVATat5, initiated by LIVE (Live music Industry Venues & Entertainment), aims to convince the Treasury to extend the VAT rate cut for the next three years and comes ahead of chancellor Rishi Sunak’s hotly-anticipated budget announcement on 3 March.
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