March 20 th 2013
TIGA, the trade association representing the UK games industry, has welcomed the news that the Government is planning to legislate for Games Tax Relief in the current Finance Bill.
It said that its introduction at the earliest opportunity was the videogame industry's top priority.
TIGA also said that the introduction of a £15 million digital competition through the Technology Strategy Board and an increase in the Skills Investment Fund to £8 million would strengthen the UK video games development and digital publishing sector.
TIGA made the comments following the announcements made in today's Budget.
Dr Richard Wilson, TIGA CEO, said:
"Although Games Tax Relief has not yet received State Aid clearance from the EU Commission, TIGA has been assured that the UK Government is committed to this Relief, will be legislating for this Relief in the Finance Bill and will deliver this Relief.
“Games Tax Relief is vitally important because its introduction will enable the UK to compete on a level playing field against our overseas competitors who already have tax breaks. Games Tax Relief will also power investment and job creation and address the market failure in the under-production of culturally British video games.
“TIGA stands ready to work with the UK Government and EU Commission to accelerate the introduction of Games Tax Relief. Businesses need to see the measure introduced as soon as possible to aid commercial planning.
"The increase in the budget for the Skills Investment Fund and the new digital competition will strengthen the competitiveness of the UK games industry. Together with Games Tax Relief they make a helpful hat trick of policy measures."
TIGA also welcomed announcements that:
- Corporation tax would be reduced to 20 per cent in 2015;
- The Seed enterprise investment scheme would be enhanced;
- R and D Tax Relief would be increased; and the
- Employment allowance worth up to £ 2,000 for businesses would be introduced.
TIGA is the trade association representing the UK’s games industry. The majority of our members are either independent games developers or in-house publisher owned developers. We also have games publishers, outsourcing companies, technology businesses and universities amongst our membership. Since 2010, TIGA has won 14 business awards and has been nominated a finalist for 16 other awards.
TIGA's vision is to make the UK the best place in the world to do games business. We focus on three sets of activities: political representation, generating media coverage and developing services that enhance the competitiveness of our members. This means that TIGA members are effectively represented in the corridors of power, their voice is heard in the media and they receive benefits that make a material difference to their businesses, including a reduction in costs and improved commercial opportunities.
For further information, please contact Dr Richard Wilson, TIGA CEO on: 07875 939 643, or email: email@example.com .