July 24, 2017
Ukie reports that the latest figures from HMRC, released on 20 July 2017, show that £73 million in Video Games Tax Relief was paid out relating to 280 claims in 2016/17. This represents a 60% increase in payments from 2015/16 (£45.5 million) and a 115% increase in claims (up from 130). These figures bring the total relief paid out since the relief’s introduction in April 2014 to £119 million, relating to 420 claims.
The report also shows that 90 video games that claimed the relief were completed in 2016/17, with UK expenditure of £163 million. A total of 295 video game productions have claimed the relief to date, supporting over £690 million of UK expenditure.
Since April 2014, 835 games have applied for certification of which 400 have been granted final certification and 375 granted an interim certificate. These 775 qualifying games account for a total expenditure of £1.6 billion of UK expenditure, which accounts for 83% of their total expenditure (£1.9bn). In 2016/17, there were 225 qualifying video games, with £449 million UK expenditure and £549 million total expenditure.
Ukie says that the 2016/17 numbers may yet increase as HMRC continue to receive claims. To read Ukie’s press release in full, click here.