Elettronica
TIGA SETS AGENDA FOR THE UK GAMES INDUSTRY WITH CALL FOR AN INDEPENDENT GAMES TAX CREDIT
Key elements include launching a new Independent Games Tax Credit, a new National Games Accelerator, a Video Games Investment Fund as well as a range of skills initiatives. Games Investor Consulting estimates that TIGA's proposals could create 2,660 additional games development jobs by 2028.
The :
2024 is proving to be challenging in many parts of our industry as businesses continue to adjust to the post-COVID environment.
The global market for video games is estimated to be worth $190 billion . The next Government and Parliament can enable the UK video games industry to seize the opportunities in this growing market by promoting TIGA's agenda.
The next Government and Parliament should augment the existing Video Games Expenditure Credit (VGEC) with an Independent Games Tax Credit (IGTC). This would mirror the newly-announced Independent Film Tax Credit: Any projects over £15 million in total production costs would utilise the existing VGEC scheme and claim a 34 per cent rate of relief on 80 per cent of qualifying expenditure.
The introduction of an . Canada , France , Ireland , Belgium , Australia , and at least 15 states in the USA offer tax reliefs for games production.
The UK is a good place to start a studio but scaling up is difficult. (2-4 years old) to prepare prototypes, develop commercial models and attract investment through training (entrepreneurial, commercial, marketing, analytics and project management skills, business plan development and pitching). Approximately 140 staff from 35 companies would complete the NGA's programme over 3.5 years.
Many studios find it difficult to raise finance. The UK Games Talent and Finance Community Interest Company helps to address this challenge via two funds. The UK Games Fund's Prototype Fund provides grants of up to £25,000 and the Content Fund provides grants of up to £150,000. .
The VGIF would provide loan funding of between £150,000 and £500,000 to games developers in the UK for 1 or a maximum of 2 games development projects per company. Up to 20 loans totalling £5 million would be disbursed each year. This would help to close a systemic gap in developers' access to finance, create jobs, drive investment, encourage new studio formation and generate IP.
The ISP would enable up to 20 lecturers per annum to be seconded to games studios. and keep their practical knowledge of game development current.
Maintaining funding for BTECs and developing robust T-Levels for the games industry will in the UK's high skills video games sector.
A Skills Investment Fund could be established to provide grant funding to SME games studios on a pound for pound matched funded basis.
into a general training levy to enable employers to spend the resources on any high-quality training programme.
The UK should operate a competitive visa system for the recruitment of skilled overseas workers. This will enable studios to recruit highly skilled people from overseas cost effectively, .
The Government and the Competition and Markets Authority need to be alert to the dominance of big companies in the game engine and platform markets. Other things being equal, competition tends to .
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TIGA is the trade association for the UK video games industry. TIGA's vision is to make the UK the best place in the world to develop video games. To this end, TIGA:
Get in touch:
Tel: 0845 468 2330
Email: info@tiga.org
Web: www.tiga.org
Twitter: www.twitter.com/tigamovement
Facebook: www.facebook.com/TIGAMovement
LinkedIn: http://www.linkedin.com/company/tiga
View original content: https://www.prnewswire.co.uk/news-releases/tiga-sets-agenda-for-the-uk-games-industry-with-call-for-an-independent-games-tax-credit-302133093.html