Tax relief 'breakthrough for computer games industry'

In today's Budget, Chancellor George Osborne announced a games tax relief would be offered to the UK's computer games industry from next April.

Paul Durrant, Director of Business Development at Abertay University, said:

“Today’s announcement of games tax relief from the Chancellor is a breakthrough for the UK’s computer games and creative industries.

“By explicitly stating that our computer games industry has the same status as the animation, film and TV sectors, the UK Government has shown it is serious about making Britain an international leader in games production once again.

“What the UK economy needs is a better environment for early stage, start-up businesses, and the proper support for companies to then grow and expand.

“The tax relief measure offers a more stable business environment for later stage, growth companies to thrive and stay in Britain, boosting the nation’s creative and economic output.

“Combined with projects like the Abertay University Prototype Fund, which helps launch new start-ups through their earliest stages, we are beginning to form a structure to unlock the incredible trapped value in the UK economy.

“Today’s tax relief is a very positive announcement, and we look forward to the UK Government continuing to show its support for the computer games industry.”

Abertay University is a world leader in computer games education and launched the world’s first Computer Games Technology degree in 1997.

The Abertay Prototype Fund initiative injects up to £25,000 in promising early stage businesses, to give them the opportunity to grow and attract further investment.