Posted on: 26 Oct, 15
Video Games Tax Relief is part of the creative industry tax reliefs that allows a qualifying company to claim a larger deduction, or claim a payable tax credit when calculating their taxable profits. Video Game Tax Relief is effective for expenditure incurred on or after 1 April 2014.
Oury Clark has created this guide to demonstrate how businesses can benefitfrom this . This guide only provides an overview and professional advice should be sought.
Game developer groups had been campaigning for a tax relief to be introduced as developers in many countries received tax breaks for production or other means of support to the industry. No equivalent tax breaks existed in the UK and employment and investment in the industry was declining. The Video Games Tax Relief has been introduced in order to allow UK game developers to compete internationally on a level playing field, promote investment, job creation and support the production of video games...
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