How will the VAT rules affect your event for 2022?

On 8 July 2020, the government announced that it would introduce a temporary reduced rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions. The 5% VAT rate  has since been extended to September 2021, increasing to 12.5% from 1 October 2021 to 31 March 2022, before rising back to 20%.

The temporary VAT rules give you the option to approach ticketing in one of two ways for your 2021 event: You can pass the saving to customers, or use it to improve both the quality and safety of your event.

#KeepVATat5 campaign logo by LIVE

What about next summer?

Some customers aren’t even able to purchase tickets for 2021 events and it could be a while before they’re in a position to order for next Summer, too – so how do you encourage them to do so earlier than that may have intended?

The answer: payment plans

Payment plans are unique in that the amounts can be staggered for your customers convenience, agreeing to payment dates to occur on a regular basis outlined at the point of purchase. Separating festival tickets into smaller, more manageable amounts is key to ensure your event is accessible to all your fans. 

Similarly, payment plans require customers to pay booking/transaction fees and, funnily enough, VAT when paying their deposit. So, if your customer purchases their ticket before March 2022, they (or you) benefit from the reduced VAT rate. 

Want to find out more?

Ready to get started?

Get your event on sale now!