Video Game Tax Relief
What should you know! Counting King can help
Learn more about
Video Game Tax Relief
The Video Game Tax Relief was introduced in the UK to reward game developers for their innovation within the field and allows them to claim a reduction in tax liability or payable tax credits.
- In order to be eligible for the relief you must pass the British Film Institute’s cultural test to prove that your work can be classed as British. You will be required to get 16 points on the test. The maximum number of points that you can currently get in the test is 31
- The main activity that your company conducts is the design as well as testing of video games
- You company must be involved in all of the following stages of your video game development: design, production, testing
- The game must be intended for the general public and at least 25% of your core expenditure must be spent in the European Economic Area (EEA)
What You Cannot Claim
There are a few limiting factors to the incentive:
- You cannot claim this incentive if you are a sole trader or a partnership and you have been taxed under Income Tax
- You will not be eligible to claim if the production of your video game was to advertise another product or a service
How Much Tax Relief Can I Get?
Benefits Of Video Game Tax Relief
If you aren’t currently accredited by the BFI, we can help you with this for no additional cost. We kindly ask for a charitable donation of £10 to your chosen charity
You can claim for up to £1m subcontractor costs per game release under this incentive
This is one of the only tax relief incentives that allows you to claim multiple deductions off your tax bill. If you would like to claim through another incentive such as R&D Tax Credits, then you will still be eligible to do so! You can get in touch with us to help you claim through both schemes
How Does Counting King Handle My Claim?
The process is simple:
Getting To Know You
We will hold an initial, informal conversation with you to understand what activities you have conducted, what your business is and whether you qualify for the incentive
Evaluating Your Costs
We will request your financials to evaluate your costs and calculate your benefit
Writing Your Claim
Counting King will write the claim for you which you can look over before submission to HMRC – you can be as involved in the process of writing your claim as you want to be
Receive your benefit in either a reduction in your Corporation Tax liability or a payable credit
For help or advice please contact us:
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