A new company called Altara Games has been formed to provide loans for UK studios against games tax breaks.
The company was founded by Strike Gamelabs commercial director Ella Romanos, with Harbottle & Lewis acting as legal advisors. Romanos also recently joined Tenshi Grants to help developers apply for grant funding.
The firm notes that while devs can apply for an interim certificate for games tax relief in advance of development, they cannot claim the money until later. Altara plans to provide loans for those who have this certificate, to the amount the studio can claim for, which will then be repaid once tax relief money is received.
“I am very pleased to announce Altara Games, which I believe will provide crucial support for studios in the development of their own titles,” said Romanos.
“Many developers are now taking advantage of the games tax relief, and I want to encourage more to do so. By providing these loans, we can help studios to cashflow their business and develop their own IP, both of which are crucial for growth.”