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2013 Headliners

Guest shangri-la_steward

By Guest shangri-la_steward
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eFestivals Mentor

eFestivals

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Tax reasons? Full payment always conveniently falls the other side of April.

I maybe wrong and being very cynical.

you're right about the April sale (which is when the full sale always used to happen) is about the tax issues. But it's not quite how you're thinking.

The tickets get sold, but Glastonbury don't get the money from the ticket agent until after the Festival (that's the standard way of agents handling ticket money, in case it needs refunding) - but whether they have the money or not the VAT is due is in the tax quarter that the sales are made in. So by holding the ticket sale in April it means that Glastonbury don't have to borrow millions of pounds to pay the VAT bill (because the ticket money will be in their hands before payment is due).

I'm not sure how having the sale in October alters things, but I'm guessing (now that they only do deposits) that there's no VAT consequences from taking 'deposits' because they are not (in legal terms) a 'sale' from which VAT is due.

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sisco Grand Master

sisco

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I think arctics, stones and mumfords are our headliners guys. Personally I think Mumford leaves it on an underwhelming note. But they are very solid. I just hope we get some female bands/ solo undercards. It seems abit male dominant.
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Ed209 Newbie

Ed209

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you're right about the April sale (which is when the full sale always used to happen) is about the tax issues. But it's not quite how you're thinking.

The tickets get sold, but Glastonbury don't get the money from the ticket agent until after the Festival (that's the standard way of agents handling ticket money, in case it needs refunding) - but whether they have the money or not the VAT is due is in the tax quarter that the sales are made in. So by holding the ticket sale in April it means that Glastonbury don't have to borrow millions of pounds to pay the VAT bill (because the ticket money will be in their hands before payment is due).

I'm not sure how having the sale in October alters things, but I'm guessing (now that they only do deposits) that there's no VAT consequences from taking 'deposits' because they are not (in legal terms) a 'sale' from which VAT is due.

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Jie Bie Newbie

Jie Bie

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you're right about the April sale (which is when the full sale always used to happen) is about the tax issues. But it's not quite how you're thinking.

The tickets get sold, but Glastonbury don't get the money from the ticket agent until after the Festival (that's the standard way of agents handling ticket money, in case it needs refunding) - but whether they have the money or not the VAT is due is in the tax quarter that the sales are made in. So by holding the ticket sale in April it means that Glastonbury don't have to borrow millions of pounds to pay the VAT bill (because the ticket money will be in their hands before payment is due).

I'm not sure how having the sale in October alters things, but I'm guessing (now that they only do deposits) that there's no VAT consequences from taking 'deposits' because they are not (in legal terms) a 'sale' from which VAT is due.

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eFestivals Mentor

eFestivals

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I take it the acts don't get paid until after the festival then?

smaller acts do (or at least did) get paid in cash on the day.

For bigger bands, the norm is that a deposit is paid of half the fee a month before the show, and the other half just afterwards. I presume that Glasto work to this normal system, but don't know for sure.

What I do know is that Eavis has to take out a massive loan each year for the advance funding of the fest. Something that was recently reported somewhere said that he's borrowing £15M from a Dutch bank to fund this year's festival.

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eFestivals Mentor

eFestivals

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Eavis must have been worrying in 2008 then!

he did - the effect on him was clearly visible, to the point of him looking unwell.

A few months after the fest he looked significantly better. So much so that when I met him then the first words that left my mouth (in some sort of auto-pilot way) were "you're looking well".

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Jackson1990 Newbie

Jackson1990

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he did - the effect on him was clearly visible, to the point of him looking unwell.

A few months after the fest he looked significantly better. So much so that when I met him then the first words that left my mouth (in some sort of auto-pilot way) were "you're looking well".

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oneeye Mentor

oneeye

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Suffering from headlineritus; CBA TBH :)

I think the only question left is whether the Mumfarts sub The Stones Sat and either Gaga/Prince/Madonna plays Sun, or (heaven forbid) Mumfarts actually headline Sun; that's my current interpretation, taking into account we're on P472 :)

Back to looking busy.............

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