Tories launch video games tax breaks microsite

The Conservative Party has launched a microsite explaining the reasons why it believes the UK video games industry is worthy of a tax break.

The coalition’s gaming tax breaks will come into effect on April 1st and could see dev costs slashed by 25 per cent for those projects that qualify.

The video games tax relief will back the UK games development industry by ensuring that all qualifying UK expenditure is eligible for support,” the site reads.

The tax relief, which will be effective from April 1st 2013, is a move to boost an already-thriving industry further and to help level the playing field in response to other countries offering tax reliefs. The UK already has a competitive advantage through its homegrown talent but these reliefs will help ensure that Britain remains at the forefront of games design.

This tax relief will lessen the financial risk of producing new games and enable games studios to invest in more staff. Reduced financial risk will also make it easier for games developers who are fresh out of university to start their own companies.”

We won’t mention the old-generation phat” Xbox joypad in the picture…

About MCV Staff

Check Also

[From the industry] Celebrating a Decade of Gaming Excellence: Pocket Gamer Connects Turns 10

Pocket Gamer Connects will celebrate its 10th anniversary this upcoming January at Pocket Gamer Connects London