Business rates relief

Theatres Trust, along with partners SOLT / UK Theatre, has written to the Chancellor and Secretary of State for Culture, to make the case for extending the business rates relief to include theatres.

The government has recently announced that pubs, clubs and live music venues in England will be given a 20% cut to business rates from April.

The measure will be targeted at venues at the heart of communities across the UK that “bring people together, support local jobs and help keep high streets and town centres busy.”

As this is the definition of the role that theatres play, we have made the case that theatres should be explicitly included as the policy detail is developed.

We estimate that around 300 theatres of varying sizes and scales across the country are currently liable for full business rates. Valuation Office Agency data found that the average theatre rateable values have already risen by 28% between 2023 and 2026, while SOLT & UK Theatre member modelling indicates increases of up to 88% between 2026 and 2029.

Reforming business rates to include this small number of theatres would not create a significant additional cost the HM Treasury but would be a much-needed boost for theatres.