Really interesting VGTR stats out yesterday from HMRC, showing the relief has supported £3.7bn of UK games development to date.
& #39;Screen Business& #39; stats shows us that around 2/3 of that spend is direct labour costs, which is about £2.5bn on UK jobs. https://twitter.com/uk_ie/status/1293872432944750593">https://twitter.com/uk_ie/sta...
& #39;Screen Business& #39; stats shows us that around 2/3 of that spend is direct labour costs, which is about £2.5bn on UK jobs. https://twitter.com/uk_ie/status/1293872432944750593">https://twitter.com/uk_ie/sta...
It& #39;s also clear that the relief supports businesses at different scales: there were 180 claims for <£50k last year, so loads for small businesses and 140 claims for between £50k-£1m, which received around £32m in total.
And of course larger businesses are claiming too. There were 30 claims for >£1m, which overall received £85m. So that& #39;s a lot of money, but it& #39;s also mainly directly supporting salaries.
45% of games job are in companies employing more than 100 people:
https://ukie.org.uk/regional-economic-report">https://ukie.org.uk/regional-...
45% of games job are in companies employing more than 100 people:
https://ukie.org.uk/regional-economic-report">https://ukie.org.uk/regional-...
Screen Business showed us that 68% of VGTR-supported projects would either not have been made in the UK, or at all, without the relief in place.
In 2016, £41m was paid out in VGTR. VGTR-supported games returned £156m in tax revenue in the same year.
In 2016, £41m was paid out in VGTR. VGTR-supported games returned £156m in tax revenue in the same year.
So overall, 1,375 video games have received £444m in VGTR. If they can do it, so can you.
Interested? Then here& #39;s some thoughts on it all from our good friend @TAGDavies: https://www.gamesindustry.biz/articles/2019-11-12-ignore-the-critics-tax-relief-is-vital-to-the-uk-games-industry-opinion">https://www.gamesindustry.biz/articles/...
Interested? Then here& #39;s some thoughts on it all from our good friend @TAGDavies: https://www.gamesindustry.biz/articles/2019-11-12-ignore-the-critics-tax-relief-is-vital-to-the-uk-games-industry-opinion">https://www.gamesindustry.biz/articles/...