UK Government Reviewing Games Industry Tax Breaks

Author: by Staff

The UK government has responded to earlier calls by trade body Tiga and other organizations to support the local games industry with tax breaks, saying it is currently reviewing the possibility to bring similar measures to the UK. Most recently, Tiga CEO Richard Wilson pointed to tax credits given to Georgia's creative industry, saying, “If the UK Government wants to see a thriving video games industry in this country, then it must create a more favourable taxation system, keep the regulatory burden on business relatively light and work to increase the supply of suitably qualified graduates.” In a response to a petition posted a government site, the Prime Minister's office responded that "the Government takes seriously the contribution of the UK's creative industries to the economy and to the UK's cultural richness." The office pointed to a document published earlier in the year called "Creative Britain - New talents for the New Economy," saying that in it "the Government committed to making sure that the creative industries, including the games sector, were aware of and made the best use of the generous Research and Development tax credits for small and medium-sized enterprises, introduced by the Government in 2000." While the office said the UK government "has already been promoting the credit within the industry," it concludes that "the Government is conscious of the recent approval of a cultural tax relief for games in France and is working with the UK industry to collect and review the evidence for introducing such a credit in the UK."