Plus Accounting obtains £200,000 in games tax relief for British businesses in 12 months
21st June 2016
British games businesses working with Plus Accounting have saved an incredible £200,000 over the past 12 months as a result of games tax relief.
Introduced in the UK in April 2014, after a lengthy campaign by industry trade bodies to encourage developers to create culturally British games, games tax relief helps developers to claim back tax on their core expenditure – giving them the chance to invest that valuable cash elsewhere.
On behalf of clients including BAFTA award winners The Chinese Room and Futurlab. Plus Accounting has saved £120,000 worth of corporation tax and obtained £80,000 in repayable tax credits to help each business to grow.
Luke Thomas, Director of Plus Accounting and an expert in Video Game Tax Relief, believes that more companies need to take advantage of this readily available relief.
“There are many developers working in Britain today whose games qualify for significant tax relief, but they’ve not taken the opportunity yet. The amounts saved might not seem like much money, but to independent developers it could be the difference between staying in, or going out of, business.”
Kirsty Rigden, Operations Director at Futurlab and board member at UKIE, backed this point up with her story about claiming games tax relief with Plus Accounting’s help.
“We’ve had two successful claims so far and when we got the cheque back on one of them, we were able to hire a senior artist.”
“I really love the tax breaks. I thought at first that it was a pain to get them, but when you get the cheque back it is massively worth it.”
Plus Accounting will be sharing information about how to claim video games tax relief for free at Meet the Business Experts in Brighton on July 11th.
Taking place the day before the Develop conference and hosted by Bright Mavericks, individuals attending the event will be able to book one to one sessions with Plus Accounting and other games business experts, as well as joining an informal networking event from 5pm in the evening.
For more information on the event, please head to this link for more information.