TIGA, the network for games developers and digital publishers and the trade association representing the UK video games industry, commended the Government’s decision to reduce business taxes announced by the Rt Hon George Osborne MP, Chancellor of the Exchequer, in today’s Budget in Parliament this afternoon. The Chancellor announced a cut in corporation tax to 17 per cent by 2020, cuts in National Insurance Contributions for the self-employed, a reduction in the burden of tax from business rates for small businesses and the introduction of tax free allowances for small digital businesses.
Dr Richard Wilson, CEO, TIGA, said:
“TIGA commends the announcement by the Chancellor in today’s Budget to reduce the rate of corporation tax to 17 per cent by 2020. This will enable more profitable businesses to invest more of their retained profits in training, tools and technology and games development. TIGA also welcomes cuts in National Insurance Contributions for the self-employed, the reduction in the burden of tax from business rates for small businesses and the introduction of tax free allowances for small digital businesses.
“We need to continue to improve the environment for the video games development and digital publishing industry in the UK. TIGA believes that Video Games Tax Relief should be improved to ensure that we have a more competitive tax regime for the industry, a Creative Content Fund should be introduced to enhance studios’ access to finance, the Seed Enterprise Investment Scheme should be strengthened to help small firms, and Regional and National Games Development Incubators should be established to help start-ups. TIGA will continue to make the case for investing in the video games industry in the months and years ahead.”
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About TIGA
TIGA is the network for games developers and digital publishers and the trade association representing the video games industry. Our core purpose is to strengthen the games development and digital publishing sector. We achieve this by campaigning for the industry in the corridors of power, championing the industry in the media and helping our members commercially.
TIGA is intent on building an enduring organisation which continually improves; a business that will make a significant impact on the games industry and so benefit our membership and the wider economy. Since 2010, TIGA has won 24 business awards, an achievement which reflects TIGA’s drive for improvement and to meet best practice.
For more information visit: www.tiga.org
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