UK industry reacts to venues business rates cut
“A profound and positive step”: representatives from the UK live industry celebrate a 50% cut in business rates for venues, as Independent Venue Week gets underway
News By | 27 January 2020
Venue operators and others from across the UK live industry have expressed their support for a 50% cut in business rates for small- and mid-sized grassroots music venues, in a “much-needed” boost for the country’s live venues.
After several years of campaigning by charity the Music Venue Trust (MVT), umbrella organisation UK Music and others, the government has slashed business rates – the tax levied on non-residential property in the UK – by half for music venues, saving grassroots music venues an average of £7,500 a year.
The decision releases over £1.7 million back into the grassroots live music sector, benefitting 230 venues across England and Wales. The news follows the establishment of a £1.5m Arts Council England fund dedicated to the grassroots sector last year.
The announcement comes as…
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