Video Game Tax Relief: Over 1000 claims successfully made since introduction in 2014

HMRC VGTR

Video Game Tax Relief (VGTR) has supported over 1,000 claims since its introduction in 2014, according to HMRC’s latest Creative Industries Statistics

A total of £324m has been paid out to 1,110 claims since the relief was introduced.  In this time over 1,075 games have made claims which has supported £2.6bn investment in British content, highlighting the invaluable government and public support provided by the scheme. 

                               

In 2018-19, 535 games benefited from the scheme, an increase of 12.6% on the previous year. The total support for games remained broadly at the same level as the previous year with a total of £103m in tax relief across 345 claims.  

Importantly, more than half of claims successfully made under VGTR represented figures totalling £50,000 or less. This demonstrates that the relief provides crucial support to smaller projects, strengthening the industry’s grass roots along with its international reach.

 Dr Jo Twist OBE, CEO of Ukie, said: 

“The Creative Industries Statistics once again show how widely Video Game Tax Relief supports video game and interactive entertainment businesses across the UK. 
 
We’re really pleased to see that the number of games supported by VGTR continues to increase, that the number of successful claims since its introduction has crossed the one thousand project mark and that it supports a diverse range of games of differing shapes, genres and sizes. 
 
However, we must continue to encourage businesses to claim relief in the coming years. Video Game Tax Relief supports creative projects across the country, creating jobs and driving significant value add for the economy.  

It is in the interest of our sector that companies continue to apply for it and use the relief to drive investment across the UK.”  

Find out more about claiming Video Game Tax Relief by reading Ukie's Access to Finance guide here.