212 games approved for UK games tax relief in 2017

More than 200 games were certified for video games tax relief in the UK last year, according to new figures from the BFI.

A total of 212 games received final certification for the government's financial incentive, up 12 per cent over the 189 certified in the previous calendar year, and almost 100 more than the 116 certified in 2015. In addition to these games, a further 182 received interim certification - a three per cent improvement on the 176 approved in 2016.

UK spend and total budget connected to games certified for tax relief were both higher than 2015 and 2016.

Over the past twelve months, tax relief has stimulated £277m in total budget spend. Meanwhile, UK/EEA spend was recorded as £249m.

Hopefully, the number of British studios that benefit from tax relief will increase as the government confirmed it has extended the initiative to March 2023.

Any developers keen to take advantage of these incentives, which effectively reduce cost of games development, would do well to read Ella Romanos' guide on how to get the most out of tax relief.

Commenting on the latest figures, TIGA CEO Richard Wilson said: "Today's statistics show that video games tax relief is helping to drive growth in our high skilled, export focused sector. Yet with Brexit contributing to the UK's economic uncertainty, it is more important than ever for the UK to reinforce its most successful industries, including the video games sector.

"We must retain video games tax relief and explore the potential for making it even more effective to support our games industry."

UKIE CEO Jo Twist added: "It's excellent to see an increasing number of games receiving both final and interim certifcation, demonstrating the continuing demand for the video games tax relief. Similarly, the increase in UK / EEA spend highlights the relief's important role in driving investment in the UK games industry."