£14m to be spent making first wave of UK tax breaks games - MCV

£14m to be spent making first wave of UK tax breaks games

19 games receive final certification in first year, 48 for interim certification
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UPDATE:The BFI has since revealed that previous figures of £268m spend and £308m budget were incorrect. Our article has been updated with the correct data.

The BFI has released figures for the first full year of UK games tax relief, reporting a UK spend of £14m towards the production of approved titles.

That’s just shy of the £15m that was budgeted for tax breaks between April 2014 and March 2015. Tax breaks for UK games developers was finally approved last year.

The BFI reports that 19 games have received final certification under its cultural test. That's up from the 14 first announced in November.

Meanwhile 48 video games have received interim certification over the past year. Accounting firm Grant Thornton provided Develop with a handy guide to applying to tax breaks last year.

You can find the full BFI report here, with the games tax relief figures starting on page 13.

“It’s very encouraging to see such positive figures highlighting the impact of the games tax relief in its first year,” said UKIE CEO Jo Twist. 

“Our sector is an economic and cultural powerhouse and we will continue to ensure games companies across the country, big and small, take full advantage of the scheme as well as showcase the ecosystem we now have to international investors. 

“We need to keep up this momentum to create an even better business environment for games companies to thrive and grow.”

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