The UK’s culture minister has confirmed that a VAT cut to help British industries get back on track will apply for live music as well.
As the UK government encourage people to get back onto the high street and back into restaurants they have announced (some) plans for live music. As part of a VAT cut for businesses to help them return with limited capacity due to social distancing, the UK’s culture minister Oliver Dowden has confirmed this will apply for live music.
Last Week Rishi Sunak, the Chancellor Of The Exchequer, announced the cut of VAT on ‘hospitality and leisure services’ from 20% to just 5%. It’s a huge relief for businesses that they’re hoping will encourage the public to spend their money and will help businesses make more money with each transaction after months of huge losses across industries.
Dowden confirmed that: “VAT cut from 20% to 5% for ‘attractions’ announced by Rishi Sunak includes: shows, theatres, circuses, fairs, amusement parks, concerts, museums, zoos, cinemas, and exhibitions.”
Live music has been confirmed to be allowed to return but only with socially distanced outdoor concerts for the time-being. The announced VAT cut is set to last for 6 months which may mean that live music misses out on the greatest benefits from it if most venues can’t return to business soon.
This support also applies to live music only and doesn’t go towards supporting the rest of the struggling music industry like independent labels, artists, recording studios, etc. A £1.57 billion support package for “cultural and heritage industries” is also yet to be confirmed in how it will shared and whether, once evenly distributed, it will be enough to help the majority of the live music industry stay afloat.