Video Games: Tax Allowances
(asked on 24th June 2020) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the contribution of the Video Games Tax Relief to the UK's (a) economy and (b) job market.
This question was answered on 30th June 2020
HMRC publish annual statistics on all of the UK’s Creative Sector Tax Reliefs. These statistics show that since Video Games tax relief was introduced in 2014 it has supported almost £2.6bn of expenditure across the UK.
HMRC publish annual statistics on all of the UK’s Creative Sector Tax Reliefs. These statistics show that since Video Games tax relief was introduced in 2014 it has supported almost £2.6bn of expenditure across the UK.
A 2018 British Film Institute (BFI) report on the screen sector tax reliefs found that across all parts of the value chain, the Video Games Tax Relief had helped to generate 4,640 direct full-time equivalent (FTE) jobs in 2016.