Following TIGA’s calls for the government to process VGTR for video games companies promptly, HMRC have confirmed that businesses should not be experiencing significant delays.
HMRC have confirmed that they aim to review and process claims received swiftly, and that the majority of claims are generally reviewed and processed within 30 days. However, this timescale is not always possible if a claim needs a more detailed review, or if any information is missing. More information on VGTR and the eligibility criteria can be found here.
To reduce any potential delay to VGTR processing, HMRC have advised any companies and their tax advisors to ensure that their claims are completed correctly and with all necessary information. This includes:
- Completion of the CT600 tax return
- Cultural certificate from the BFI
- Statutory accounts
If companies have not heard anything about the progress on their claims after 28 days, they can contact the creative industry tax unit directly using the emails post-box accessible here.
HMRC have also responded to TIGA members’ concerns about R&D Tax Credits. They have confirmed that despite pressures on HMRC operational resources, their first priority is to maintain their aim of clearing 95% of SME tax credit claims within 28 days, and they have implemented contingency plans to support this, including applying extra resources to the work. HMRC are currently meeting this aim.
HMRC have confirmed that they will give regular updates to members of the Research and Development Consultative Commitee (RDCC). If a company wishes to enquire about the progress of claim they should send an email to RD.IncentivesReliefs@hmrc.gov.uk.
To raise any further queries or issues with VGTR or R&D Tax Credits, please get in touch with Dr Richard Wilson, CEO of TIGA on firstname.lastname@example.org.