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PocketGamer.biz briefing: Your free guide to claiming R&D tax credits

PocketGamer.biz briefing: Your free guide to claiming R&D tax credits
The R&D Tax Relief scheme has been in existence for over 10 years, and in 2010/11, it paid out £1.1 billon to more than 10,000 UK businesses as a reward for their development activities.

The good news is that mobile game developers operating in the UK are among those who could be eligible for R&D Tax Credits that would reduce their corporation tax bill.

Money on the table

Even loss-making companies can benefit, since the scheme provides them with a cash credit payable in exchange for surrendering tax losses, and retrospective claims can be made going back two accounting periods.

Nevertheless, many aren't taking advantage.

"Thousands of software developers are missing out on claiming back up to 25 percent of their staff wage bill." claims Barrie Dowsett, owner of R&D tax credit specialists Myriad Associates.

"Many software developers are simply not aware of this very generous incentive from HMRC and just as many have been incorrectly advised by their trusted accountants that they do not qualify."

Eligibility

If you can answer 'yes' to the following three questions, it's likely that your company is eligible for R&D Tax Credits.


  1. Are you a UK Company or UK Branch that is registered for Corporation Tax?

  2. Are you faced with projects that contain uncertainties & unknowns of a technological nature?

  3. Have you incurred wage costs, agency costs, sub-contract costs or software costs in any of these projects?


Obviously, these criteria cover plenty of UK mobile games developers, so in order to help them take advantage of this scheme, we've launched the latest PocketGamer.biz Briefing: 'How to make an optimised R&D Tax Credit claim.'

Prepared by the experts at Myriad Associates, the briefing offers a practical five-step guide to submitting your claim. And best of all, it's free of charge.

You can grab the PDF right here. It contains everything you need to get started, and includes contact links for the team at Myriad, so you can find support if you need it.





Staff Writer

PocketGamer.biz's news editor 2012-2013

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Barrie Dowsett CEO at Myriad Group
James Andrew makes a very relevant point regarding the R&D Tax Relief scheme. I expect many indie game developers that are directors/shareholders are given general advice from their Accountants to pay a basic salary of around £8k (personal tax free allowances) and take the rest as dividends. However when you take into account R&D Tax Relief the principle of "dividend over salary/bonus" is no longer valid.

For an owner managed company that is undertaking eligible R&D activities, I strongly recommnend that they contact us so that we can look at their individual circumstances to ensure that they are remunerated in the most tax efficient manner from a personal and company point of view. You will find my contact details as the end of the free Practical Guide.
James Andrew
Being an indie game dev, I don't pay wages to myself, so probably going to be hard to justify...
Mitch (Dave Mitchell) Games Designer at OniMobi
Barrie and Ian from Myriad Associates worked with us recently on our R&D Tax Credits and in fact I was so impressed with the service they gave us that I recommended them to PG.

This free guide is really great advice and I would also add my honest recommendation for getting in touch with Myriad Associates to deal with your claim. They offer a genuinely good service and it was extremely cost effective even for a small Indie like ourselves.
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