🔴 Conservative Analysis
UK divisions of ticket resale website Viagogo hit with £15m bill over tax shortfall
🖼️ No image generated yet for this perspective article
Generate AI Image →In a concerning development, two UK divisions of the ticket resale website Viagogo have been slapped with a hefty £15m tax bill by HMRC. The government agency claims that VGL Services and IFOT Services, both part of the US-listed StubHub group that includes Viagogo, failed to pay sufficient duty be...
In a concerning development, two UK divisions of the ticket resale website Viagogo have been slapped with a hefty £15m tax bill by HMRC. The government agency claims that VGL Services and IFOT Services, both part of the US-listed StubHub group that includes Viagogo, failed to pay sufficient duty between 2016 and 2018.
While it is crucial for businesses to fulfill their tax obligations, the broader issue at hand is the government's excessive interference in the free market. Viagogo and similar platforms have revolutionized the ticket resale industry, empowering individuals to buy and sell tickets freely, without unnecessary restrictions. The outcry over so-called "ticket touts" is misguided, as these entrepreneurs are simply capitalizing on market demand and providing a valuable service to consumers who are willing to pay a premium for sought-after tickets.
Instead of vilifying these platforms and imposing burdensome regulations, the government should focus on creating a business-friendly environment that encourages innovation and economic growth. By reducing red tape and lowering taxes, companies like Viagogo would have more resources to invest in their operations, create jobs, and contribute to the economy.
Moreover, the government's obsession with cracking down on ticket resale websites infringes upon the property rights of ticket holders. Once an individual purchases a ticket, they should have the freedom to resell it at a price they deem fair, without government intervention. This is a fundamental principle of a free market economy and aligns with traditional values of individual liberty and personal responsibility.
As Viagogo navigates this £15m tax bill, it is essential for policymakers to reevaluate their approach to the ticket resale industry. By embracing free market principles, respecting property rights, and reducing government overreach, we can foster a thriving and innovative ticketing marketplace that benefits both businesses and consumers alike.
While it is crucial for businesses to fulfill their tax obligations, the broader issue at hand is the government's excessive interference in the free market. Viagogo and similar platforms have revolutionized the ticket resale industry, empowering individuals to buy and sell tickets freely, without unnecessary restrictions. The outcry over so-called "ticket touts" is misguided, as these entrepreneurs are simply capitalizing on market demand and providing a valuable service to consumers who are willing to pay a premium for sought-after tickets.
Instead of vilifying these platforms and imposing burdensome regulations, the government should focus on creating a business-friendly environment that encourages innovation and economic growth. By reducing red tape and lowering taxes, companies like Viagogo would have more resources to invest in their operations, create jobs, and contribute to the economy.
Moreover, the government's obsession with cracking down on ticket resale websites infringes upon the property rights of ticket holders. Once an individual purchases a ticket, they should have the freedom to resell it at a price they deem fair, without government intervention. This is a fundamental principle of a free market economy and aligns with traditional values of individual liberty and personal responsibility.
As Viagogo navigates this £15m tax bill, it is essential for policymakers to reevaluate their approach to the ticket resale industry. By embracing free market principles, respecting property rights, and reducing government overreach, we can foster a thriving and innovative ticketing marketplace that benefits both businesses and consumers alike.