British Labour MP Tom Watson has come out in support of the games industry, calling for reforms to the Research and Development Tax Credit system.
TIGA, the trade association representing the UK video games industry has been lobbying the government for months to widen the scope of the R&D Tax Credits. Now, it wants your help – asking gamers around Britain to contact their local MPs to sign an Early Day Motion in Parliament.
The association believes these changes are necessary in order to support the local video games industry.
“The Government was right to raise the level of qualifying relief in respect of the R&D Tax Credit in the March Budget,” says TIGA CEO Richard Wilson, but he believes it could go further. “It should now extend the scope of R&D tax credits to include costs incurred in development including premises costs and the cost of applying for intellectual property protection and design.”
The proposals put on the table by TIGA are said to deliver up to 75% more value to games studios than the current regime. More value – more investing in R&D, more new IP, more jobs for developers.
Tom Watson MP is joined by John Whittingdale OBE MP in tabling the EDM calling for the Government to back TIGA’s proposals.
This sector-specific tax break, explains TIGA Chairman Jason Kingsley (also CEO / Creative Director at Rebellion), “would have the most beneficial impact on the UK games industry”. To get involved, find your local MP and their contact details on the FindYourMP website and let them know why you believe local game development deserves their support.