Video Games Tax Relief
VGTR loans
VGTR Advance Funding is available to businesses big & small who meet a minimum criteria.
What is the Video Games Tax Relief (VGTR)?
Video Games Tax Relief (VGTR) is a scheme developed by HMRC that grants UK game developers the option to apply for a tax relief payment or offset.The most important factor to qualify is that the game developed must be British under the definition of the British Film Institute (BFI), the body who administers the Video Games Cultural Test.
At the same time, the company must have done the majority of the game development, which includes, planning, design and development. Also, at least 25% of the costs incurred by the company need to happen within the European Economic Area (EEA).Two main areas are excluded from VGTR – games developed for the purpose of gambling and games or game-like narratives that are exclusively for advertising or promotion.
What is a VGTR loan?
Fundsquire Advance Funding is a loan facility taken out against a company’s future VGTR inflows. This financing option can be accessed up to half a year early, is affordable and can be used even if you are pre-revenue.
Is my company eligible?
Eligibility isn’t complicated but does take into consideration a number of circumstances relating to your company setup and operation, however generally if you fit the following criteria you should get in contact to discuss your options.
A Limited Liability Company
Incorporated in the UK
With qualifying expenditure of over £300k per year
Have a question?
No business or path to success and growth is the same. If you have a question, are ready to apply or would like to learn more about Fundsquire, please contact us today.