The UK games industry is to receive tax breaks starting in 2013.
Announced by Chancellor of the Exchequer George Osbourne as part of the Budget 2012 speech, the tax credits are designed to ?support our brilliant video games and animations industries? and will come into effect from April 2013.
After similar initiatives kickstarted a boon for the industry in countries such as Canada, groups including?Tiga and UKIE have spent a number of years lobbying for further protection of the UK-based industry. Today?s announcement of game development tax relief has been described as a ?decisive victory? by Tiga, with Chairman Jason Kingsley stating that the move ?will save jobs and companies, promote growth, build financial confidence and bring in much needed export income from around the world?.
As a direct result of such tax relief, Tiga believe around 4,500 jobs will be both directly and indirectly secured in the UK, which should come as welcome news to studios such as Studio Liverpool, Rebellion, Sports Interactive and Crytek.
Chairman of UKIE, Andy Payne, added: ?Congratulations must go to everyone who has?campaigned so hard for?tax breaks?to be introduced?for the UK?s games industry. It?s now up to everyone involved to work together to ensure that the games industry takes advantage of the opportunities it has been given?.
Source: http://bnbgaming.com/2012/03/21/tax-breaks-revealed-for-uk-games-industry/
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