237 Games Approved for Video Games Tax Relief in 2015

237 Games Approved for Video Games Tax Relief in 2015

New figures from the BFI show the positive impact that the Video Games Tax Relief (VGTR) is having on growing the UK industry.

In total, 237 games received certification in the scheme’s first full calendar year, with a total EEA/UK spend of £728.9m. Of these 237, 116 have been confirmed for final certification (meaning the final claims have been paid out on finished games), with 121 remaining in interim stages (for games that have not yet been finished).

Total combined budgets for the games given final certification was £180.9 million, with budgets for the interim projects totalling a further £548 million; this all adds up to a total of £728.9 million EEA/UK spend.

The tax relief gives a return to the developer of around 20 per cent of their qualifying production costs, meaning that VGTR delivered a value to UK games businesses in 2015 of roughly £145 million (20 per cent of the EEA/UK spend).

The BFI stats show that the average UK spend for games with final certification experienced a huge increase from Q1-3 to Q4, growing from £600,000 to £3.4million, showing a wide range in the budgets of the projects being funded.

 

Ukie CEO, Dr Jo Twist responded to the stats, saying: “These figures show that the Video Games Tax relief is working to encourage strong growth in our sector. The high interim figures also indicate that this is only expected to show more growth in the coming months and years, with more culturally British games being created in the UK with a wider range of budgets.”

 

“Now that we have a clearer picture of the impact, with the full first year’s figures, Ukie would like further detail to be provided, starting with a regional breakdown of the numbers to show how VGTR is helping across the country. We are now undeniably in a stronger place thanks to VGTR. We have a level playing field with the rest of the world, and now we need to capitalise on that opportunity. Initiatives such as the Mayor-funded Games London plan and the London Games Festival, which will showcase why the UK is games capital of the world, are showing what we can achieve with the right support in place .”

You can download a full list of games that qualified for tax relief in 2015 (1 January to 17 December) here.