tax relief boosts UK games
The BFI has released figures on games qualifying for games tax relief in the UK for the first year of tax relief (April 2014 – March 2015).
New BFI figures have revealed how many games have qualified for Video Games Tax Relief in its first year. Since the launch in April 2014, 19 games have received final certification and 48 have received interim certification, for a total of 67 games.
Between them, these games have a total budget of £182.6 million – almost all of which, £173.1 million, is to be spent in the UK or Europe.
As the effective rate of relief is roughly 20% of the game’s UK budget, these figures mean that, in the first year alone, the scheme has created roughly £34.6 million of eventual benefit for the UK games industry – it is clearly already having a strong impact.
The full figures on the first year of tax relief can be found in the BFI release. The EEA/UK spend for games with final certification was £14.4m on a total budget of £15.1m (95.2%), meaning each game had an average EEA/UK spend of £758k. The EEA/UK spend of the games with interim certification was £158.7m, on a total budget of £167.5m (94.8%)