New stats show games tax relief taking off
Video Games Tax Relief is gathering momentum, new stats published today by the BFI show.
In the first half of 2015, a total of 89 games received tax relief certification - 40 final certification and 49 interim certification, meaning the games have not yet been completed. Between them, these 89 games have a total budget of £346.8 million, of which £290 million is being spent in the UK or EEA.
Statistics published in April showed that, in its first full year, the relief was claimed by 67 games, compared to 89 games in the last six months. It is clear that the relief is gathering momentum as more games companies become aware of it and understand how to claim it.
Responding, our CEO Dr Jo said:
These figures show what a real difference the Video Games Tax Relief is making to the UK’s games and interactive entertainment ecosystem. It’s clear the scheme is gaining momentum, with more games with diverse budgets getting certified. More development in the UK grows the ecosystem and means more people can make a living doing what they love, developing world class, distinctly British games. It also opens up more channels of funding for companies which is critical. We worked hard with the sector to secure the scheme, which we believe is the most innovative and inclusive in the world, and we will continue to ensure all games companies across the UK can take full advantage of it. We will also keep working to promote the UK as the best place in the world to make and sell games.
Make sure you check out our step-by-step guide to applying for your tax credit and ask us if you have any questions!