Cheltenham Festival fans watching the races in shared office spaces this week risk their bosses being fined £1,000. Businesses are liable under the law if they do not have the correct TV licence.

The festival is the most popular horse racing event of the year with millions set to tune into ITV this week. However, many of the events will take place during working hours, with 25.7 per cent of the population working in an office within a co-working space. Businesses must ensure they have the correct TV licence if staff flock to communal televisions to watch the races.

Research conducted by Office Freedom—a flexible office broker—found that in shared office spaces, the majority of premises are not covered by one TV licence. Businesses are legally responsible for ensuring their space is covered by the correct TV licence and could be fined £1,000 if caught without one.

Other Cheltenham Festival fans watching the races without a TV licence could also incur a £1,000 fine if they are caught. In the UK, anyone found to be watching, downloading or streaming without a valid TV licence is liable. That includes watching live TV through on-demand services such as BBC iPlayer and ITVX, in addition to streaming services.

A spokesperson for Office Freedom said: “With racing taking place through afternoons, we can imagine many businesses will be eager to allow staff to tune in to watch the action while they are at work.

“But with so many now operating in shared office spaces - accommodating around a quarter of workers in the UK, according to survey research - it is important for companies to check if they have a valid TV licence in place.

“The onus is on individual companies operating in a co-working office to have a licence which covers the company, as existing TV licences in shared office spaces will only cover communal areas.

“For companies currently leasing a shared office space, we’d urge them to check their TV licence as we would hate for anyone to get caught out just for allowing staff to enjoy the festival of racing ahead.”

It is set to be another exciting week of racing, with the very best names in the sport flocking to Prestbury Park. The first race gets underway at 1.20pm today.