The UK video games industry has gone from strength to strength in recent years with the country now ranking in the top 5 of video game markets globally.
Helped by a favourable UK tax environment in the form of Video Games Tax Relief (VGTR), this has helped level the playing field to enable UK companies to compete creatively and commercially on an exciting and innovative international stage.
Recent figures from HMRC show that since the VGTR was introduced in 2014, it has paid out £444 million has been paid out to 1,460 games.
How we help
Shipleys’ specialist team enjoy working with a myriad of companies in the Video Games sector. These include coders, designers, producers and developers.
A key area we help them with is managing the VGTR filing process and supporting them with a wide variety of specialist services to support their business operations and finances.
These include:
- Assisting with the VGTR application and advising on allowable spend to include in the claim, in alignment with the Relief’s criteria
- Setting up Special Purpose Vehicles (a dedicated company) to support the Relief’s application
- Liaising with the BFI for sign-off of the application
- Liaising with HMRC
- Liaising and recommending VGTR specialist lawyers
- Year-end accounts production and compliance of the company
- Company secretarial compliance of the company
- Helping with tax return filing eg Corporation Tax, VAT, PAYE etc
- Bookkeeping
- Payroll
- Audits for companies over the audit threshold
Specialist knowledge
We have an excellent track-record in successfully filing VGTR claims, with all being paid in full for our clients. Our regular contact with the BFI and HMRC helps us maintain a detailed understanding of how the rules are being applied in practice and gives us insight into likely future changes.
We are also proud members of UKIE – The Association for UK Interactive Entertainment.
Please contact one of our video games specialists shown on this page to find out how we can help you.
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