Asked by: Paul Kohler (Liberal Democrat - Wimbledon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the reduction in business rate relief for grassroots music venues on (a) the number of jobs in the music industry and (b) early-career musicians.
Answered by James Murray - Exchequer Secretary (HM Treasury)
At the Autumn Budget, the Government announced that retail, hospitality and leisure (RHL) properties will receive 40% relief (up to a cash cap of £110,000 per business) for 2025-26.
The Culture, Media and Sport (CMS) Committee’s report on grassroots music venues recommended that RHL relief should not be wholly withdrawn in April 2025. The Committee’s report also highlighted the sector's desire for certainty and long-term stability. That is why the Government intends to introduce permanently lower tax rates for RHL properties with rateable values below £500,000 from 2026-27.
The Government’s full response to the CMS Committee’s report was published on 14 November 2024 and is available online: https://committees.parliament.uk/work/8227/grassroots-music-venues/publications/.
Asked by: Paul Kohler (Liberal Democrat - Wimbledon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of changes in business rate relief for grassroots music venues on the (a) number of live music venues and (b) music industry.
Answered by James Murray - Exchequer Secretary (HM Treasury)
At the Autumn Budget, the Government announced that retail, hospitality and leisure (RHL) properties will receive 40% relief (up to a cash cap of £110,000 per business) for 2025-26.
The Culture, Media and Sport (CMS) Committee’s report on grassroots music venues recommended that RHL relief should not be wholly withdrawn in April 2025. The Committee’s report also highlighted the sector's desire for certainty and long-term stability. That is why the Government intends to introduce permanently lower tax rates for RHL properties with rateable values below £500,000 from 2026-27.
The Government’s full response to the CMS Committee’s report was published on 14 November 2024 and is available online: https://committees.parliament.uk/work/8227/grassroots-music-venues/publications/.