On the 8th July 2020, the Chancellor announced that there would be a temporary reduced rate of VAT to 5% for hospitality, holiday accommodation and attractions effective from 15th July 2020. This will last until 12th January 2021.
For more information please see the UK Government website here.
The Government has announced that VAT on admission to ‘attractions’ will have a temporarily reduced rate of VAT. ‘Concerts’ have been listed within this and therefore our (VAT registered) event organisers should benefit from this. Further guidance can be found here.
Disclaimer - This information should not be taken as legal advice, please consult professional advice for further information.
We feel that the real aim of this temporary reduction in VAT is to get the music industry moving again.