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UKIE calls on government to modernise Video Games Expenditure Credit ahead of Autumn Budget

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UKIE calls on government to modernise Video Games Expenditure Credit ahead of Autumn Budget

"Reforming VGEC is essential to ensuring the UK remains a competitive place to build and grow games businesses," says UKIE CEO

Ahead of this week's Autumn Budget, UKIE is urging the UK government to modernise the Video Games Expenditure Credit (VGEC).

The trade body is also pushing for a new fund to address the £500,000 to £2 million domestic growth capital gap, and incentives to prevent studios and talent from relocating to countries with better tax credits.

"UKIE has led sustained engagement with government on these priorities, working with our members and industry partners to build the evidence and make the case for reforms that will help British games businesses compete, attract investment and grow," UKIE CEO Nick Poole tells GamesIndustry.biz.

UKIE, TIGA, and the UK Video Games Fund have proposed a tapered 'games growth' fund, offering 53% support for projects with budgets up to £15 million, and 39% for those between £15 million and £23.5 million.

"This would provide more competitive support for studios of different sizes and help attract greater investment into UK games development," says Poole. "We are also calling for reform of the current restriction on qualifying expenditure, which is currently set at 80% and limits the support available even when significant development activity takes place in the UK."

"The rules must also reflect how modern games are made, including live-service development, downloadable content, co-development and projects brought into the UK."

Under the current rules, Poole notes that there are "several types of games and production models where the current rules can create barriers or uncertainty."


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