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If your company is working on a video game – good news – you may be entitled to pay less Corporation Tax via the Video Games Tax Relief (VGTR).
Your company will be entitled to claim VGTR if:
Unfortunately, if your company has claimed Research and Development Relief on a project, no VGTR, grants, or any other state aid reliefs can be claimed on that project.
This information is for guidance purposes only. Due to the complex nature of Video Games Tax Relief criteria, it is highly recommended that you speak to your accountant before assuming your project qualifies.
We’re fast approaching the end of the tax year on 5th April, and now is usually a good time to get to grips with any tax changes, so you can maximise your tax efficiency for the outgoing tax year and get your business prepared for the new tax year. You’ll also want to stay up-to-date with the rates and thresholds.
Business mileage is an important – but often overlooked – expense for freelancers and contractors. In short, this is good news for you and your company.