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UK Video Game Tax Relief Cancelled

Posted by Soulskill on from the you-just-lost-the-angry-video-game-nerd-vote dept.

Stoobalou writes "UK game developers have just been dealt a financial blow by Chancellor George Osborne in his first budget, which sees the coalition government scrapping the video game tax relief plans promised by Labour. In his speech today, Osborne simply said the 'planned tax relief for the video games industry will be cancelled.' According to the government's budget report, the cancellation of video game tax relief will save the government £40 million in the 2011-2012 financial year, and a further £50 million in each subsequent year."

2 of 106 comments (clear)

  1. However.. by severn2j · · Score: 3, Insightful

    They are cutting Corporation Tax, employer contributions to National Insurance and (if I read correctly) new start ups wont have to pay NI on the first ten employees they hire. So rather than provide a boost for that one industry, those breaks are helping out all industries, including the games industry. Makes sense to me.

  2. Re:Massive U-Turn? by Grantbridge · · Score: 3, Insightful

    Just because the minister for the Department of Jam wants more jam subsidies does not mean that the Chancellor will pay for them! I don't think he has lied or misled you, he just doesn't have the clout to persuade Osborne to cut the health budget and pay for games instead.