New figures released by BFI show 114 news games have been certified in the last six months
– Tax relief has stimulated £103m in total budget spend in this time
TIGA, the independent games association, today calls on the UK Government to support the UK games industry even further, as new figures from BFI further prove the success of Video Games Tax Relief (VGTR).
VGTR, which effectively reduces of the cost of games development, was first implemented in April 2014 after a lengthy campaign led by TIGA. It has supported the creation of 114 new games in the last 6 months alone, with budgets totalling £103m. UK/EEA spend totalled £84m.
VGTR has supported the creation of 213 games since July 2016, up from 166 the previous year, with budgets totalling £215m and a UK/EEA spend of £187m.
Dr Richard Wilson, CEO at TIGA, said, ““We’re incredibly proud to see that Video Games Tax Relief (VGTR) is proving such a success, buttressing a UK gaming sector which is a shining star of the creative industries. Since we successfully worked with the Government to implement VGTR in 2014, it has supported expenditure of nearly £1,200m. It has enabled developers to hire additional staff to ensure that UK games development continues to be of the highest quality in the world. However, it is still early days for VGTR, and more can be done to further boost the sector. We’d like to see VGTR made even more competitive, and propose the Government considers raising relief to 27.5 or even 30 per cent of core production costs of a game. TIGA is also calling for the creation of a Games Investment Fund to support original IP from developers large and small. Finally, we can’t hide from Brexit, and the Government must look at how we continue to have access to highly skilled games developers all over the world. The sector’s in great health, but we can – and must – do more.”
Jason Kingsley OBE, Chair of TIGA and co-founder at games developer Rebellion, said, “We can all be proud of the ever-growing strength of the UK games industry – famed the world over for the craft, originality and skill on show. All of us within the industry – and increasingly those outside it – can see the great effect games tax relief has had and continues to have in supporting developers, whatever their size, to push the limits of technology. Yet there’s still work to be done and we look forward to working with others to grow a vibrant industry.”
Nik Jeffries / Edward Bell
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TIGA is the non-profit trade association representing the UK’s games industry. Its members include independent games developers, in-house publisher-owned developers, outsourcing companies, technology businesses and universities.
TIGA’s vision is to make the UK the best place in the world to do games business. It does this through Government lobbying and maintaining a voice in the corridors of power at both the Westminster and Scottish parliament.