Trade body UKIE has urged game developers to take advantage of the UK’s Seed Enterprise Investment Scheme.
The SEIS gives startups a boost by offering tax relief to individual investors.
Investors can give eligible startups up to £100,000 in a single year, and claim up to fifty percent back in tax relief.
The scheme requires several criteria be met by the company recieving investment:
- have 25 or fewer employees
- have no more than £200,000 in assets at the time the investment is made
- be UK-based
- be undertaking a new business (be a start-up)
- not be listed on any recognised stock exchange
- not have previously raised money under the Enterprise Investment Scheme or Venture Capital Trust scheme
In addition, the company must not be owned by the investor.
Each company can recieve a maximum of £150,000 in SEIS funding.
Ukie has produced a fact sheet for interested developers, which can be accessed here.