…reduce your development costs by 20% through an HMRC
subsidy
Could your company qualify?
Is your company a British video games development company?
Is at least 25% of games development expenditure spent on EEA
goods/services?
If you answered yes to both these questions then you may qualify for
Video Games Tax Relief (VGTR). This means that you can claim an
additional 80% deduction from Corporation Tax on qualifying
expenditure. If your company is loss making this deduction can be
surrendered for a 25% cash tax credit.
If not, have you considered whether you qualify for R&D tax relief?
Although fewer types of costs qualify for this relief compared to
Video Games Tax Relief, it can generate credit worth up to 33% of
qualifying expenditure.
Is your company a UK Company?
Are the games/software you develop technically innovative?
If you answered yes to both of these questions then you may qualify
for R&D tax relief. This tax relief enables you to claim an additional
130% deduction from tax for qualifying expenditure. If your company
is loss making the enhanced deduction can be surrendered for a tax
credit at 14.5%.
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How we can help:
We assisted a company gain one of the first 20 final cultural
certificates issued by the BFI (needed to claim VGTR)
We have saved clients more than £16.5m in cash through R&D
tax relief claims over the past 4 years
We have created a unique tool to enable us to compare the
potential savings from VGTR and R&D tax relief to help you
claim the biggest tax credit.
Tait Walker regularly provide advice on fundraising and IP
holding structures for games and software companies.
For a free introductory meeting please contact Alastair Wilson at [email protected] or
Louise Barker at [email protected]. Alternatively please call 0191 285 0321.