Impact of the UK Autumn Budget on the Gaming Industry

The UK's Autumn Budget has prompted trade bodies Ukie and TIGA to call for improvements to tax relief for the gaming industry. Despite the industry's brief mention in the announcement, experts note that the changes are largely administrative, focusing on the transition from Video Game Tax Relief to Video Games Expenditure Credits. Notable changes include increased dividend tax rates, adjustments to investor relief schemes, and modifications to share option schemes. Industry leaders argue that enhancing Video Games Expenditure Credits would have a positive impact on the economy, driving growth and creating high-quality jobs. Ukie CEO Nick Poole and TIGA CEO Dr Richard Wilon emphasize the industry's potential for economic and cultural value, citing the need for targeted support to compete globally. Research suggests that improving tax reliefs could create over 6,000 new jobs, with TIGA advocating for a strengthened Video Games Expenditure Credits system to promote growth and maintain the UK's position as a leader in game development.