MCV/DEVELOP News, events, research and jobs from the games industry
The Conservative party has launched a microsite dedicated to the upcoming games tax relief set to be effective from April 1st.
The website details reasons why the Government believes tax relief is good for both the game industry and the UK as a whole.
It states that the move is aimed to boost an “already-thriving industry” further and to help level the playing field, with countries such as Canada offering very generous benefits to developers.
“The tax relief will be worth up to 25 per cent of qualifying development expenditure,” reads a statement on the site.
“The video games tax relief will back the UK games development industry by ensuring that all qualifying UK expenditure is eligible for support.
“The tax relief, which will be effective from 1 April 2013, is a move to boost an already-thriving industry further and to help level the playing field in response to other countries offering tax reliefs. The UK already has a competitive advantage through its homegrown talent but these reliefs will help ensure that Britain remains at the forefront of games design.
“This tax relief will lessen the financial risk of producing new games and enable games studios to invest in more staff. Reduced financial risk will also make it easier for games developers who are fresh out of university to start their own companies.”
Developers are also encouraged to e-mail their views, which will be passed on to the relevant government department.
For details on games tax relief, you can view our breakdown here. For the full list of requirements from the video games cultural test, click here.
