Major music venue ‘devastated’ after missing out on business rates cut

Amelia Jones

A major Welsh music venue says it is “devastated” after being excluded from new permanent business rates relief by just £4,000.

Cardiff’s Tramshed will not qualify for the Welsh Government’s new 30% reduction for eligible hospitality and leisure properties because its rateable value has risen to £55,000 – just above the £51,000 cut-off.

The venue’s operator, Propaganda Independent Venues, described its exclusion as “patently unfair” and warned it could have a direct impact on culture in the capital.

Tramshed’s rateable value has increased by almost 36% in three years, from £40,500 in 2023 to £55,000 in 2026.

The increase means it falls outside the new permanent relief scheme, which is due to come into effect from April 2027 and will cover eligible businesses including live music venues, cinemas, theatres, libraries, museums, gyms, hotels, pubs, restaurants and clubs.

Propaganda Independent Venues co-founder Dan Ickowitz-Seidler said: “We are devastated by the announcement that Tramshed will be excluded from the permanent 30% business rates relief.

“The rateable value of Tramshed, set by the HMRC Valuation Office and the Welsh Government, has risen dramatically, taking us just over this new threshold to qualify for support, and it feels like we have been pushed over a cliff edge.

“Tramshed is a longstanding and culturally important space in Cardiff.

“We need financial support as much as any other venue, if not more. We provide many jobs for local people and suppliers, and consistently bring additional footfall to the local economy.

“Our exclusion from the permanent business rate relief offered to the vast majority of live music venues in Wales is patently unfair and will have a direct impact on culture in Cardiff.”

Exclusions

The Music Venue Trust (MVT), which has campaigned for greater support for grassroots music venues, welcomed the Welsh Government announcement but warned that a number of venues would remain excluded.

It said: “Mid-scale venues serve as essential regional hubs within the Welsh live music ecosystem, yet they face paying full business rates without relief.

“Furthermore, while a 30% reduction improves operational stability, it does not fully restore the protection previously offered by the 75% relief scheme, nor does it address the underlying issue of how cultural spaces are valued for business rates.”

The Welsh Government has said the permanent reduction will be funded by a “small increase to the higher multiplier”, which applies to the highest-value properties in Wales.

Propaganda Independent Venues said this raised the prospect of Tramshed not only missing out on the 30% reduction but potentially facing an increased business rates bill to help fund the scheme.

The operator is seeking further clarification from the Welsh Government over the impact of the changes on Tramshed and other music venues which fall outside the qualifying threshold.

Manifesto commitment

A Welsh Government spokesperson said: “This permanent reduction is a first step in ensuring our high streets are supported, delivering on a manifesto commitment to rebalance business rates and breathe new life into town centres.

“Our work continues, including through the Town Centres Taskforce, which is considering the support communities need – recognising that challenges and opportunities vary across different parts of Wales.”

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