Video games tax credit finally receives state aid approval

more+
less-
more+
less-

The European Commission has finally given the green light to the proposed UK video games tax credit which will now come into effect from 1 April 2014.

Similar to the existing film and TV tax credits, this new relief will mean games developers could be eligible for a payable tax credit worth up to 25% of qualifying production costs provided certain cultural criteria are met.

It is estimated that around 25% of UK produced games could be eligible for the new tax credit and that it will provide around £35 million a year of much needed financial support to the industry.

 

Written by:

Published In:

EU
Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© DLA Piper | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×