£14m is being spent on the UK’s first tax break games

The BFI has released figures for the first full year of UK games tax relief, reporting a UK spend of 14m towards the production of approved titles.

That’s just shy of the 15m that was budgeted for tax breaks between April 2014 and March 2015. Tax breaks for UK games developers wasfinally approved last year. The BFI reports that 19 games have received final certification under its cultural test. That’s up from the14 first announced in November.

It’s very encouraging to see such positive figures highlighting the impact of the games tax relief in its first year,” said UKIE CEO Jo Twist. Our sector is an economic and cultural powerhouse and we will continue to ensure games companies across the country, big and small, take full advantage of the scheme as well as showcase the ecosystem we now have to international investors.

We need to keep up this momentum to create an even better business environment for games companies to thrive and grow.”

Develop has the full story.