Entertainments: Tickets

Treasury written question – answered on 6th September 2013.

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Photo of John Robertson John Robertson Labour, Glasgow North West

To ask the Chancellor of the Exchequer if he will estimate the annual revenue forgone to HM Revenue and Customs as a result of the operation of the secondary ticketing market.

Photo of David Gauke David Gauke The Exchequer Secretary

Secondary ticket sellers carrying on a trade are liable to pay tax on their profits in the same way as primary ticket sellers are. Self-employed sellers will be subject to income tax and companies will be subject to corporation tax. VAT will also apply if their turnover exceeds the legal threshold.

HMRC does not hold information on the amount of tax collected from the ticketing market, or on the tax foregone through ticket re-sales in the hidden economy.

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