Do you qualify for R&D Tax Credits for Apps and Games? In 2015 the UK games market was estimated to become worth £4.193bn and has continued to grow with every passing year. The region with the largest sales growth was the ‘digital sales’ (downloads that don’t demand further computer software, such as a disc, to operate) for consoles, the Pc and mobile devices; which means that the improvement of games and bespoke applications (‘apps’) is an particularly lucrative market. The correct idea, with all the right advertising and device placement, can potentially see a massive return on investment for app developers and game developers alike. Get far more details about R&D Tax Credits for Apps and Games
Having said that, with all the ever-growing interest in new games and apps, the marketplace can be a complicated one to break into - if a firm should be to stand a opportunity in such a competitive environment, a decent level of time and work should be invested into researching and establishing your item.
R&D Tax Credits for Apps and Games
As with any organization venture, expense can turn out to be an issue, specially any time you are in the pre-sales stage of development - minimising your outgoings and costs is essential to make sure a wholesome improvement period might be implemented and sustained. The Analysis and Improvement (R&D) of games and apps may well qualify for relief beneath the R&D Tax Credits Scheme - an initiative that could see your tax bill decreased by a particular percentage, depending on how much you devote on R&D, and just how much of these charges qualify below the scheme.
When looking at the expenses and calculating components that could potentially be eligible, consideration could be taken into account for employees, utilities, bespoke hardware and computer software licenses. The definition of ‘research and development’ for the purposes of this scheme is pretty broad, and for anyone who is an app developer or game developer it truly is probably that your project will likely be covered as you will be by very definition of the title ‘developing’ your item.
Study into the software program you use or plan to be working with, games or app development as a basic whole, and advancing existing technologies with new innovations or inspirations are all locations that are likely to be thought of covered by the R&D umbrella.
Claiming R&D Tax Credits for Apps and Games
It needs to be noted that R&D Tax Credits are classed as state aid, so should you have applied for the Video Game Tax Relief (VGTF) and are a little or medium organization, you ought to be conscious that you simply can not claim each. The guidelines are distinctive for significant providers, which may perhaps nevertheless be eligible for R&D tax relief claimed under these schemes is just not counted as state help. Nevertheless specialist guidance and consultation is advisable when you program to apply for greater than one scheme to work out what reliefs will provide you with the greater added benefits.
Quick RnD assists in creating tax credit claims for the R&D Tax credits scheme and may help you learn what parts of your project are eligible for tax relief, and how to assure you obtain each of the advantage you're entitled to. Get in get in touch with and see just how much they could save you.