Video games tax credit finally receives state aid approval

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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.

 


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