Gordon Brown has said that the government is to waive bills for staging the Live 8 concerts, following concerns that the multi-nation event could be hit with a huge VAT bill.
Link: VAT hit for Live 8
Although the event is still likely to receive a tax bill for the money raised through a competition line for tickets, Brown said the government would not hand out other bills roughly equivalent to VAT costs.
‘We are going to waive the bill for the cost of the concert and waive the bill for the cleaning up,’ said Brown. ‘That is in lieu of any payment of VAT. That is a way of helping this event – probably worth about £500,000.’