This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
The Chancellor has announced plans for tax relief for 3 of the UK’s key creative industries from April 2013.
In the Budget today, George Osborne announced his intention to introduce tax relief for the animation, video games and high-end TV production sectors subject to state aid approval and following consultation.
Tax breaks for animation and TV would aim to reverse a trend of UK productions being made overseas and attract foreign companies to make their progammes in the UK. Tax relief for video games could help to increase the sector’s contribution to the UK economy by £280 million over the next 5 years.