The UK festival industry has been given more time to prepare its case on how business rates are assessed against agricultural land that hosts music events. Music Weeek reports that a Live Nation led coalition of 720 interested parties, including the Association Of Independent Festivals (AIF), UK Music, The Agents’ Association, The Concert Promoters Association and The Association Of Festival Organisers, has called for an immediate halt to the rating of festival sites for business rates by the Valuation Office Agency until a clear policy is established. “We do not consider that festivals and events sites should now be rateable as they are essentially temporary and ancillary uses of agricultural land,” it said in a letter to MPs.
Proposed changes including backdating the rate bill for five years could put the future of some festivals at risk as rural landowners take stick of financial risks. Last week’s Spending Review by Chancellor George Osborne did not include an announcement on the Business Rates Review, which will now revert to March 2016. AIF general manager Paul Reed said events and festival organisers are hoping the Government will use the extra time to take action on business rates for the sector.