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UK video games tax relief pays out $392 million to devs

Over 1,075 games have made claims since 2014
UK video games tax relief pays out $392 million to devs
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There have been over 1,000 claims made for video games tax relief since the scheme was introduced in 2014 according to HM Revenue and Customs.

The number of games that have benefited from the scheme increased 12.6 per cent year-on-year to 535 in 2018 to 2019.

Overall over 1,075 games have made claims since the introduction of the video games tax relief, stemming from 1,110 claims that have seen a total of £324 million ($392 million) paid out.

The level of support for games in 2018 to19 was similar to the previous year with 345 claims (claims can be made for multiple games), totalling £103 million (almost $128 million).

More than half of the claims made come from smaller projects that represent a figure of £50,000 ($60,500) or less.

Driving investment

“The Creative Industries Statistics once again show how widely video games tax relief supports video game and interactive entertainment businesses across the UK,” said UKIE CEO Dr Jo Twist.

“We’re really pleased to see that the number of games supported by VGTR continues to increase, that the number of successful claims since its introduction has crossed the one thousand project mark and that it supports a diverse range of games of differing shapes, genres and sizes.

“However, we must continue to encourage businesses to claim relief in the coming years. Video games tax relief supports creative projects across the country, creating jobs and driving significant value add for the economy.

“It is in the interest of our sector that companies continue to apply for it and use the relief to drive investment across the UK.”