Andrew Lloyd Webber's theatre empire facing 'notable impact' of tax hike

LW Theatres highlights sectors concerns over NI change

Andrew Lloyd Webber’s family of six West End theatres saw turnover and attendance figures slightly up in the year to June 30, 2024, according to figures submitted to Companies House. Turnover was up 4% to £198.1m, while box office takings were up by 4% to £131.4m despite attendance rising by just 1.3% to 3.3 million. LW Theatres said its figures were assisted by a higher average ticket price due to “excellent programming”. Pre-tax profit was cut…

Lloyd Webber’s Theatres Faces NIC Hike Amid Profit Drop

Lord Andrew Lloyd Webber’s theatre empire, LW Theatres, is navigating a complex financial landscape as it prepares for the upcoming hike in employer’s National Insurance contributions (NICs). Chancellor Rachel Reeves’ October 2024 Budget announcement of a 1.2 per cent increase in NICs, bringing it to 15 per cent, is set to raise £25bn in tax receipts. However, this increase will undoubtedly impact… Source

Andrew Lloyd Webber's theatre empire facing 'notable impact' of tax hike

LW Theatres is coming into next month off the back of a financial year which saw its turnover increase to almost £200m but its pre-tax profit slashed in half.