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Concert Ticket Prices Set to Soar because of Tax Rule
Valuations based on 2024 data have pushed business rates up to 300%, with some tax bills expected to more than double by 2027, risking higher ticket prices, experts say.
- This year, analysis for the Press Association found major concert venues across England and Wales face property tax bills that could more than double within three years, with The O2 Arena, London risking a £1.8m rise to around £8 million in 2026-27.
- Chancellor Rachel Reeves set 2024-based valuations in her November 26 budget, and the Valuation Office Agency compared 2024 data with 2021 pandemic-era figures, pushing arena values higher.
- Data for individual venues shows Wembley arena's value rose 300% to 3 million, raising its bill by 124,875 to 541,125 in 2026-27, according to Ryan.
- Mark Davyd, chief executive of the Music Venue Trust, warned `It's going to have to be passed on `, and Alex Probyn of Ryan said transitional relief will soften year one but bills can still more than double.
- Industry groups have urged the government to act as smaller music venues across the UK face painful rates rises and warn closures are possible, while Mr Davyd warned artists may shorten UK tours.
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17 Articles
Bristol Post+11 Reposted by 11 other sources
Concert ticket prices set to soar because of tax rule
Venues will have to pass the increases on to gig-goers
·Bristol, United Kingdom
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UK’s biggest arenas hit by huge business rates surge as valuations soar up to 300%
Some of the UK’s most prominent live-entertainment venues, including The O2, Co-op Live, Manchester Arena, the First Direct Arena in Leeds and Wembley’s SSE Arena, are bracing for some of the sharpest business-rate rises in the country after dramatic increases in their rateable values (RVs) were revealed for 2026. New analysis from global tax firm Ryan shows that almost all major arenas have seen valuations surge, in several cases more than doub…
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Total News Sources17
Leaning Left3Leaning Right1Center11Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 20%
C 73%
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