TIGA lobbied the UK Government in the run up to the March Budget to enhance the R&D Tax Credits by raising the level of qualifying relief to 200 per cent. TIGA published Powering a high technology recovery: Improving R&D Tax to highlight necessary changes the Government needed to make to support the video games industry.
Dr. Richard Wilson, TIGA CEO, stated:
“The Government was right to raise the level of qualifying relief in respect of the R&D Tax Credit in the March Budget. Yet the Government should go further. It should now extend the scope of R&D tax credits to include costs incurred in development including premises costs and the cost of applying for intellectual property protection and design.
TIGA’s proposals for the R&D tax credits will deliver 60%-75% more value to games studios than the current R&D tax credit regime. This will enable studios to invest more in R&D, generate and retain new IP, and hire more development staff
“John Whittingdale OBE MP and Tom Watson MP are well known advocates of the video games industry whose opinions hold serious weight. Their decision to table an EDM calling for the Government to back TIGA’s proposals in respect of the R&D Tax Credit is excellent news. “The EDM published today can be signed by other MPs and we strongly encourage everyone within the games industry to lobby their Member of Parliament to add their signature.”
Jason Kingsley, TIGA Chairman and CEO and Creative Director of Rebellion, said:
“Games Tax Relief, a sector specific tax break, would have the most beneficial impact on the UK games industry and TIGA will continue to make the case for this crucial measure.
“In the meantime, TIGA’s proposals to improve the small firms R&D tax credit would have a positive impact on our sector. TIGA will continue to work with Tom Watson MP and John Whittingdale OBE MP in making the argument to the Government to support the video games industry.”
Notes to Editor:
1) You can search for your local MP by typing in your postcode at the following link:
2) The Early Day Motion published today:
1781 RESEARCH AND DEVELOPMENT TAX CREDITS FOR THE VIDEO GAMES INDUSTRY 9:5:11
Mr Tom Watson
Mr John Whittingdale
That this House welcomes the reforms to the Research and Development (R&D) tax credits announced in the Budget; further welcomes the research and analysis by TIGA, the UK video games trade association, in its publication, prior to the Budget, Powering a high technology recovery: Improving R&D Tax, which called for the level of R&D tax credits to rise from 175 per cent. of qualifying expenditure to at least 200 per cent.; notes that these changes will be of significant value to the video games industry; calls on the Government to extend the scope of R&D tax credits to include costs incurred in development including premises costs and the cost of applying for intellectual property protection and design; and further calls on the Government to ensure it pursues a policy of supporting the video games industry to increase employment in this highly-skilled, export-orientated, low carbon industry.
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. TIGA was awarded‘Trade Association of the Year’ and the‘Member Recruitment Award’ at the Trade Association Forum Best Practice Awards 2010. TIGA has also been named as a finalist in the 2010 Chartered Management Institute (CMI) National Management and Leadership Awards in the category of‘The Outstanding Organisation of the Year Award (SME)’. TIGA is an Investors in People organisation.
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 07875939643: or email email@example.com ; or contact David Hodges on 02070911653