Video Game
Tax Credits
Unlock Savings with Video Game Tax Credits
At Worth Knowing, we specialize in helping video game developers maximize their financial potential through Video Game Tax Credits. With the introduction of new tax incentives like the Video Games Expenditure Credit (VGEC), navigating the landscape of tax relief has never been more rewarding. Our team is here to guide you through every step, ensuring you take full advantage of the opportunities available to your studio.
Understanding Video Games Tax Relief (VGTR)
Video Games Tax Relief (VGTR) is a government-backed incentive designed to support the creative industry by providing financial relief to video game companies. Whether you’re a small indie studio or a large development firm, VGTR can significantly reduce your tax liability, allowing you to reinvest in your projects.
- Video Game Tax Credit: VGTR offers an additional deduction in computing taxable profits, making it easier to manage your game development budget.
- Tax Incentives for Video Game Companies: Beyond VGTR, new initiatives like VGEC provide further tax incentives, ensuring your studio has the resources it needs to thrive.
Qualifying for Video Game Tax Credits
To benefit from these tax incentives, your video game must meet specific criteria. Our R&D tax credit for game developers service ensures that you understand and meet all the necessary requirements.
- Eligibility Criteria: Your company must be liable to Corporation Tax and directly involved in the production and development of video games. Additionally, your game must pass a cultural test administered by the British Film Institute (BFI), certifying it as a British video game.
- Video Game Production Tax Credit: At least 25% of your game’s core expenditure must be incurred within the European Economic Area (EEA) to qualify for VGTR.
Maximizing Your Tax Relief
Our comprehensive game development tax relief services are designed to ensure that you maximize your savings. We assist with every aspect of the tax credit process, from initial assessment to final claim submission.
- R&D Tax Credit for Game Developers: If your game development involves innovative processes or technologies, you may also qualify for R&D tax credits. We help you navigate both VGTR and R&D credits to maximize your benefits.
- Video Games Tax Relief: Whether you're applying for VGTR or the new VGEC, our team ensures that you receive the full amount of tax relief available to you.
Why Choose
Worth Knowing?
- Expert Guidance: Our team of tax consultants is well-versed in the intricacies of Video Game Tax Credits and R&D tax credits for the gaming industry.
- Comprehensive Support: From eligibility assessment to filing your claim, we provide end-to-end support tailored to your studio’s unique needs.
- Maximized Savings: We work to ensure that your studio benefits from all available tax credits for game development, helping you reinvest in your creative projects.
Ready to discuss how we can help? Let’s schedule a chat to explore your needs.
Frequently Asked Questions (FAQs)
