1) All tickets will be vatable at 20% -
afaik even corporate boxes are not deductable but please correct if wrong.
1) All tickets will be vatable at 20% -
afaik even corporate boxes are not deductable but please correct if wrong.
Correct but services provided by artist are charged at a cost plus vat that eliminates lots of this so overall net effect isn't as good as expected. Accountants dealing with music industry don't get paid big money for zilch using service companies etc.
2) Huge range of local companies and support services will be used.
That was original payback criteria for Dome and now 12 years later many still not got return on original investment
3) The complex also includes cinema, restaurants etc.
Cinemas make little money, 70-80 of takings on 1st run movies goes overseas, at about week 3-4 cinemas can keep more but at that stage screens never even hit 40% full over a weekm cinemas make money from selling popcorn / soft drink/ ice cream etc..................couldn't believe the stats but mate worked for Vue cinemas and he confirmed as much and its same for all of them.
4) Knock on benefits from hotel stays and so on.
Not much as existing venues still exist and spreading it to another makes overall
little impact.
5) Variety of different events and productions - can't assume all will be offshore or foreign acts. The music industry is an export earner for UK is it not?
Define export earner ?
Artists live overseas so they can pay little or no tax so its like feeling great about having Amazon based in UK but have you had a look at how much tax they pay worldwide ?