News

UK Games Industry Growth Fastest Since Records Began

A report by TIGA shows that the UK games industry grew faster in 2019/20 than at any time since reporting began in 2007, thanks in part to VGTR.

Government Support For The UK Gaming Sector

The UK gaming sector has gone from strength to strength in recent years and there’s a range of funding supports available.

Can Smartphone Gaming Apps Attract VGTR, Or Is It For Console Games Only?

Video Games Tax Relief (VGTR) can be claimed in respect of games developed for any platform, such as video game consoles, tablets, PCs and, yes, smartphone gaming apps.

Innovative UK Companies Set To Benefit From £1.25 Billion COVID-19 Support Package

As part of the government’s efforts in supporting businesses during the COVID-19 pandemic, high-growth, innovative UK companies will be offered £1.25 billion in taxpayer-funded loans.

What Impact Has E-Sports Had On The Gaming Industry?

E-sports is a relatively new phenomenon, but thanks to the likes of YouTube and others its popularity has now grown to become a billion dollar industry.

What Is The UK Games Fund And How Can It Help My Business?

The UK gaming market is now worth nearly £6 billion, partly due to the meteoric success of titles like The Grand Theft Auto & Tomb Raider series.

How Much Is VGTR Worth Both To Individual Companies And The Wider Economy?

The British Video Games Industry is going through some exciting times right now. According to the trade association that represents the UK gaming sector - TIGA - the industry is worth well over £500 million to Britain in tax take.

Mobile virtual reality headsets made VR super accessible to millions of people, but as of this month, they’re (unofficially at least) being consigned to the history books.

In spring of 2017, several new reliefs came into effect to work alongside R&D Tax Credits in helping businesses in the creative sector to innovate.

Take a look at our top 6 tips to maximise your next VGTR claim.

Video Games Tax Relief is designed to offer financial assistance to UK companies involved in the design, production and testing of films and video games.

Myriad Offers Free VGTR Advice To Ukie Members

Myriad Associates has kindly volunteered a day of Chris Dowsett's time to impart FREE expert advice to Ukie members on video games tax relief.

Video Games Tax Relief (VGTR) allows you to get back up to 20% for your game’s core expenditure, and you don’t have to wait for the game’s development to be complete

If you are wondering “Is my game eligible for VGTR” then there are a couple of things you should consider.

The rules for Video Games Tax Relief (VGTR) set out a consistent approach to calculating taxable profits of VGDCs which applies regardless of whether or not VGTR is claimed in respect of a video game.

In this blog, we give you a brief overview of the certificates available and the cultural test you will need to pass in order to acquire the certificate. More information on passing this test can be found in our latest eBook: How to apply for VGTR.

In this blog, we explain via content from our latest VGTR eBook, how you could be missing out on claiming both VGTR or R&D Tax Relief.

Video Games Tax Relief (known as VGTR) offers an excellent tax relief. In this blog we discuss how UK game companies can apply for this relief

According to the latest figures released from the Entertainment Retailer’s Association (ERA), the UK sale of games has now surpassed that of both music and video combined.

Last week, The Department for Digital, Culture, Media and Sport published estimates that the UK’s Creative Sector had contributed over £101 billion to the UK economy in 2017.

Kuju Ltd was claiming R&D Tax Credits with the assistance of their accountants when they ran into a number of technical hurdles. They reached out to Myriad Associates and we were able to increase the scope and size of the R&D tax credits claim.

In this blog, we help companies clearly understand what parts of the BFI's Section B (the cultural contribution test) really count towards a successful VGTR claim, and what game developers need to do in order to pass this test.

The latest Video Games Tax Relief statistics and 6 ways to maximise your next VGTR claim

It is estimated that less than 10% of UK game developers are claiming Video Games Tax Relief. According to data released by HMRC back in July 2017, £73m was paid out relating to 280 claims in the 2016-17 tax year.

The Video Games Tax Relief (VGTR) scheme has been extended through to 2023. The incentive was due to expire in April 2018. VGTR enables developers in the gaming industry to claim beneficial tax credits on their production costs.

According to figures released earlier this month by HMRC there has been a significant increase in the number of games qualifying for the Government’s Video Games Tax Relief (VGTR) scheme.

If you are just starting out as a games developer in the UK, the UK Games Fund may be able to boost your finances.