Train2Game attended, 22 April 2014, the first TIGA seminar explaining to senior figures in the gaming industry of the impact the new Games Tax relief law will have the games industry.
Richard Wilson, CEO of TIGA, started by sharing the news that when the tax breaks start it will generate “4,000 new jobs” in the sector.
The panel, explaining the new law, includes representatives from Rebellion, the BFI, Grant Thornton, Three River Studios, Pinewood, and Eden Films.
The film industry panel members explained to a packed audience, in the Dolby Labs Cinema in central London, how the very similar tax breaks law impacted on the British Film Industry and further how many new opportunities arrived in the UK rather than going to other countries.
Two of the key factors for the Tax breaks are that projects must be for commercial purposes and equally not for games that include gambling. Also advertorial apps generally do not qualify for the tax breaks – avoiding tax breaks being given out to significant high street outlets purely for advertising purposes.
Another key factor is that studios do not need to rush to make applications. There is NO CAP on the amount of qualifying applications. This is a law and not a grant based system.
Applications can be and will be made online and studios can qualify for the tax breaks under several criteria. It could be that a tax break is issued on the basis of Cultural Content or the level of contributors, with many other categories.
Also it should be noted that the tax break applicants could be awarded points towards the tax break as a result of any/ALL EU citizens involved in the UK project.
The HMRC (tax office) still have further clarification interpretations of the new law therefore, there will be further briefing to the games industry in the future.
TIGA, an awarding body of Train2Game, were complimented on their continued efforts to reach this conclusion which started over a decade ago.
Train2Game’s Digital Media Team were complimented by Richard Wilson for the massive contribution they played in publicising the campaign which lead to such a positive outcome.