About The Games Begin
We loan against your UK Video Games Tax Relief claim.
This loan can be made against the money you have spent developing a game, or money you intend to spend developing a game.
We have criteria you must fulfill and we must perform our due diligence, but we act quickly and accurately to loan you the maximum amount possible.
TGB is supported by Nyman Libson Paul entertainment and media accountants, and experts in UK Creative Industry Tax Reliefs.
Our industry leading team are very experienced in processing, claiming and maximising your VGTR claim amongst other accounting, tax and business services we can provide.
This all provides you, the developers, with capital to continue developing or to begin marketing your game sooner in the development process. Helping ‘The Games Begin’ quickly and successfully.
About UK Video Games Tax Relief
From the 1st April 2014 Creative Industry Tax Relief was extended into the Video Games industry having already been successfully introduced in Film, TV and Animation.
It is estimated that the relief will be worth an extra £188m in inward investment between 2014 and 2019.
Video Games Tax Relief (VGTR) applies to UK registered companies and operates in a similar manner to UK Film Tax Relief.
For a company to claim VGTR they must be responsible for the designing, producing and testing the video game, OR directly negotiating, contracting and paying for rights, goods and services in relation to the video game. For a game to qualify it must have been intended to be supplied to the public when development commenced i.e. a project cannot be ‘switched’ into becoming a game just to claim VGTR.
It should also be noted games for advertising or gambling purposes are also ineligible for VGTR.
All ‘core expenditure’ is eligible for VGTR, with at least 25% of this having to be expenditure in the UK.
As with Film Tax Credit, VGTR projects must satisfy a cultural test to qualify for relief which is certificated by the BFI. In total, UK video game businesses can now claim back 25% of 80% of their total eligible game production costs, the same as Film. This will be paid back as a tax credit to the games company following a successful claim to HMRC.
The Games Begin and Nyman Libson Paul are in an unrivalled position to assist companies throughout this process.