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Saving The UK Games Industry

arcticstoat (993717) writes | more than 3 years ago

United Kingdom 0

arcticstoat (993717) writes "Following the cancellation of games tax relief in the 2010 UK budget, the UK games industry is now feeling increasingly threatened by Canada, France and some US states that offer tax relief to their games businesses. What's more, it looks as though the R&D tax credits scheme offered up by UK Chancellor George Osborne in last week's budget speech is nowhere near enough to enable UK-based games studios to compete internationally. "In terms of magnitude, games tax relief would be much more generous," says Dr Richard Wilson, CEO of the UK games industry's trade association TIGA, in this in-depth interview about the need for games tax relief in the UK. "The proposals we've been campaigning for would allow games companies to basically put in a claim for a reduction in corporation tax of between 20-30 per cent on given projects. The R&D tax credits are much smaller in magnitude – we're talking somewhere around 4-5 per cent." Is this enough to enable UK game studios to compete with the likes of Canada? "Good grief, no," says Wilson, "absolutely not.""
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