TaxAdministrationTax breaks on horizon for video games industry

Tax breaks on horizon for video games industry

The government promises to look into tax breaks for developers of video games

The government has signalled it is ready to investigate tax breaks for
developers of video games to enable them to compete with similar incentives from
countries such as France which was given a go-ahead from the EC to allow 20% tax
relief for those who met certain cultural criteria.

‘We have now succeeded in persuading colleagues across government that we
should look again at this issue, particularly in light of the French situation,’
Margaret Hodge, creative industries minister, told a games industry seminar in
Westminster yesterday, the Financial Times reports.

Hodge stressed the UK games industry would ‘need to demonstrate a genuine
market failure’ for her department to persuade the Treasury to introduce a
similar scheme.

‘We are nervous about these forms of tax relief,’ she said. ‘Because there is
a fiscal squeeze, we don’t want to get into an international Dutch auction where
we vie to outbid each other on tax relief.’

Further reading:

Read
the Financial Times story

Related Articles

Paul Morton, Tax Director, Office of Tax Simplification

Administration Paul Morton, Tax Director, Office of Tax Simplification

4m Emma Smith, Managing Editor
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

5m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

6m Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

6m Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

8m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

8m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

8m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

2y Fraser Simpson, Reporter