Huge UK tax cut on concert and opera tickets
mainThe UK’s user-friendly Culture Secretary has just tweeted a huge cut in VAT on tickets to the performing arts.
Pleased to confirm VAT cut from 20% to 5% for “attractions” announced by @RishiSunak includes
Shows, Theatres, Circuses, Fairs, Amusement Parks, Concerts, Museums, Zoos, Cinemas & Exhibitions
We will announce further steps on path to reopening shortly@EquityUK #PlanForJobs pic.twitter.com/V04WNPMXQM
— Oliver Dowden (@OliverDowden) July 8, 2020
No concerts, no tickets, no tax anyway
nor much difference made to all the places that sell culturally exempt tickets and/or aren’t VAT registered…
Great. Reduction on a purchase you can’t actually make…who said this was not an imaginative government?
Actually, Dowden is off to a decent start with the arts, so it will be interesting to hear what comes next.
Actually it’s not of much help for opera and concerts, as these are zero rated under VAT Cultural Exemption
They’re exempt, not zero rated like books and newspapers. The difference is that if you provide exempt services, you cannot reclaim all the VAT you incur on costs. This means that, for the consumer, there is a hidden cost representing irrecoverable VAT.
And a booking fee!
I just hope this all isn’t too late, Mr Dowden.
This is, of course, welcome along with the £1.57billion support package for the arts, but let’s not forget that Institutions have been crying out for support for weeks.
In the meantime we have mourned the loss of Nuffield Southampton Theatres and sadly, I feel there may be more to come.
Fine if there were something near normal to go to so tax to pay anyhow as there are no tickets to buy. Wagner cut down and done in a car park, or similar? Just not my scene.