The European Commission have confirmed that the tax relief for the production of video games in the UK has been re-notified until at least 2023.
Notification is required according to the EU State Aid laws to ensure that any measures introduced to support businesses are not anti-competitive in Member States.
This is fantastic news providing some much-needed confidence to the UK games sector and maintaining a key competitive advantage for UK based studios.
New figures show great first year for Video Games Tax Relief
The BFI have released today figures on games qualifying for games tax relief in the UK for the first year of tax relief (April 2014 – March 2015).
New BFI figures have revealed how many games have qualified for Video Games Tax Relief in its first year. Since the launch in April 2014, 19 games have received final certification and 48 have received interim certification, for a total of 67 games.
Many more games applied for tax relief in December
Labour's views on how digital will shape the economy's future
I attended a Digital and Tech Manifesto briefing at Labour HQ yesterday. Chuka Umunna, the Shadow Business Secretary, and a team of frontbenchers from across departments talked about the work they have been doing to weave digital issues across all their policies going into next year’s Manifesto.
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Developers can now get their games production tax credits, as the final piece of legislation has come into force.