LIVE rues budget’s ‘missed opportunity’ on VAT cut

“20% VAT on tickets in the UK is vastly out of step with our competitors in Europe and North America,” says CEO Jon Collins

News By James Hanley | 6 March 2024

Jon Collins, LIVE
Jon Collins

UK live music trade body LIVE has described Chancellor Jeremy Hunt’s latest budget as “another missed opportunity” after calls for a reduced VAT rate on ticket sales went unheeded once again. Hunt did announce, however, that orchestra tax relief (OTR) would become permanent at a rate of 45%.

The current temporary 50% rate of OTR was due to taper down from April 2025 and drop eventually to its original rate of 25%. A theatre tax relief rate of 40% (and…

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