WebJan 25, 2024 · Firstly, enhance Video Games Tax Relief (VGTR) by raising the rate of relief from 25 to 32 per cent to promote growth in the sector. Secondly, introduce a Video Games Investment Fund (VGIF) to improve studios' access to finance. The VGIF would provide funding of up to £500,000 available to games businesses on a matched funding basis. WebAug 31, 2024 · To help the UK gaming industry compete in the global marketplace, the UK government introduced Video Games Tax Relief (“ VGTR “) in April 2014 to incentivise video game development companies (“ VGDCs “) to produce games in the UK. Since VGTR’s introduction, £444 million of tax relief has been paid out in relation to the production of ...
Six ways to make the most of Video Games Tax Relief
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Budget 2024: UK tax reliefs to be remodelled as expenditure credits
WebOct 26, 2024 · Expected to launch in 2024, and subject to approval from the European Commission State Aid, Ireland’s newest tax credit will allow Irish-based video game developers to claim up to 32% of the costs associated with the design, build and testing of their video games, up to €25 million. WebDec 18, 2024 · For video games tax relief, removing the £1m cap on eligible subcontracted spend, and restricting eligible costs to UK expenditure only (EEA spend may no longer qualify). For high end television tax relief, reviewing the minimum slot length and minimum expenditure requirements, and defining a ‘documentary’ in the legislation. WebFeb 10, 2024 · Who can claim. Your company can claim Video Games Tax Relief if the video game is: spend at least 25% of its ‘core costs’ on goods or services provided from within … allnovel online