Video Games Tax Relief, a measure TIGA successfully campaigned for over seven years, has provided a powerful boost to the UK video games industry. TIGA research indicates that the industry is growing by over 7 per cent per annum in terms of headcount. A crucial driver of this growth is Video Games Tax Relief.
Video Games Tax Relief was claimed for 45 video games with a financial year of completion of 2014-15 and for 65 video games with a financial year of completion of 2015-16. (See: http://www.parliament.uk/business/publications/written-questions-answers-statements/written-questions-answers/?page=1&max=20&questiontype=AllQuestions&house=commons%2clords&uin=68115).
More UK studios should examine whether they can benefit from Video Games Tax Relief because it effectively reduces the cost and the risk of games development. If you want to understand more about this vital Relief and how to claim it, please contact Suzi Stephenson at TIGA (suzi@tiga.org); she can introduce you to tax and accountancy firms who can assist you with respect to Video Games Tax Relief. If you can benefit from this Relief but do not claim it, then you are effectively flushing money down the drain when instead you could be investing it in games.