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DigitalCity warns of need for gaming tax relief

Digital experts in the North East have reacted with disappointment to the news Games tax relief will not be approved by April 1st as the UK awaits confirmation from Europe.

An event held today will explain the relevance of this, and other announcements made in the budget to DigitalCity Businesses.

However the UK games trade body UKIE stated tax relief will still definitely happen, and that the government is “100 per cent committed” to legislation.

Mark Elliott, chief executive officer of DigitalCity Business in Middlesbrough, said: “It is disappointing that tax credits, which will allow the gaming industry in the UK to compete on a level playing field with the rest of the world, are not to be introduced on April 1 as expected.

“Gaming, as the recent successes of Double Eleven and Coatsink Software show, is a boom industry in the Tees Valley.

“These tax credits would further encourage entrepreneurism in the region and allow our gaming companies to showcase their excellence globally. We already have real interest from new businesses – businesses that would seriously look at the Tees Valley as opposed to Canada or France if the tax relief comes in – but if it doesn’t, they’ll go.

“Businesses who would like to find out more have the opportunity to attend an event with Tait Walker to find out more about what this, and other plans outlined in the budget, will mean to them.”

The event will be held today, Thursday March 21 at Wynyard Rooms, Teesside, with chartered accountants Tait Walker taxation experts who will take businesses through the Budget statement possible implications for their company.

It will also feature a news section on the new Games Tax Relief which do not now have a set time to come into place.

A buffet lunch will be served from 12.30pm, followed by presentations at 1pm. The event will end with a Q and A session at 2pm.

This was posted in Bdaily's Members' News section by Lottie King .