During his budget 2012 speech, Chancellor George Osborne promised to implement tax reliefs targeted at animation, high-end TV and video games as part of his ambition “to make the UK the technology centre of Europe”.
“We were delighted when the government made the budgetary announcement,” said Richard Wilson, CEO at TIGA, the trade association representing the UK games industry. “This is the culmination of a four year campaign from TIGA, so we were very positive about that.”
The government has not given any indication as to the rates of relief to be implemented, but from Osborne’s statement about where it will position the UK against its competitors, it can be inferred that the rates will be in the region of 20%.
“It gets us closer to a level playing field,” said Wilson. “If we had rates of 20 and 25%, that will put us in a very competitive position.”
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