Video Games Tax Relief helps game developers claim back money from HMRC. A company can receive back around 25% of the money it spent on developing a game, provided it can receive certification from the BFI and meets certain key criteria set out by HMRC.
You may be eligible for these credits without realising it, which means you could be missing out on thousands each year.
Last year HMRC paid £45m to 130 companies claiming this relief. The number of games receiving certification for the scheme increased by 30% after its first year. We believe many more gaming companies could, and should, be applying for this relief.
This wide ranging tax break provides relief for spend on most aspects of developing a game, such as designing, producing and testing the game. Some expenditure is excluded, such as debugging, maintenance and development of hardware.
The tax relief is obtained by making a claim on your company’s tax return. You can either claim a cash credit (if your company hasn’t made a profit), or you can reduce your corporation tax bill if you are profitable.
It’s our job to help you make the most of this scheme and claim back as much money as possible. We have a specialised team of industry experts who can ensure you claim the maximum amount you are eligible for.
We do this by:
Analysing your company to establish if you’re eligible for Video Games Tax Relief
Assisting with the BFI Cultural Test for a Video Game Certificate
Making a claim for the relief and handing any HMRC enquiries
Dealing with red tape
Looking at every aspect of your accounts to make sure you claim back as much money as possible