Last month the Government announced its intention to review the Audio-Visual Tax Reliefs which includes Video Games Tax Relief. Amongst the announcements are proposals to remove EEA spending from qualifying expenditure, a removal or revision of the subcontractor cap and reform of how the relief is claimed by companies by moving them to an expenditure credit model.
Video Games Tax Relief has been an enormous success and has helped hundreds of companies set up and grow in the UK since its creation in 2014, turning it into one of the best places in the world to make games.
The UK games industry contributes £5.26 billion in Gross Value Added for the UK economy, and companies were able to claim £197 million through VGTR last year alone. Whilst the Government recognises the success of VGTR, and its intention is to continue to help our sector to grow – it also wants to know how these proposed changes may impact you and your day-to-day business decisions.
We have pulled together a survey for all of our members to complete to ensure we can convey your experiences and thoughts to Government as part of this process.
Please complete the survey by 25 January 2022. If you have any questions about the consultation itself, or wish to submit any evidence that is not covered by the survey, please email consultations@ukie.org.uk