R&D Tax Credits for Apps and Games

Do you qualify for R&D Tax Credits for Apps and Games? In 2015 the UK games market was estimated to be worth £4.193bn and has continued to develop with each passing year. The area using the greatest sales growth was the ‘digital sales’ (downloads that do not require additional software, including a disc, to operate) for consoles, the Pc and mobile devices; which means that the development of games and bespoke applications (‘apps’) is definitely an really lucrative market place. The ideal notion, using the correct marketing and device placement, can potentially see an enormous return on investment for app developers and game developers alike. Get extra details about R&D Tax Credits for Apps and Games

However, together with the ever-growing interest in new games and apps, the market is usually a tricky a single to break into – if a business should be to stand a likelihood in such a competitive atmosphere, a decent quantity of time and work has to be invested into researching and creating your item.

R&D Tax Credits for Apps and Games
As with any company venture, price can develop into an issue, especially if you are in the pre-sales stage of development – minimising your outgoings and fees is essential to ensure a wholesome development period may be implemented and sustained. The Study and Development (R&D) of games and apps might qualify for relief below the R&D Tax Credits Scheme – an initiative that could see your tax bill decreased by a certain percentage, depending on how much you spend on R&D, and just how much of those costs qualify beneath the scheme.

When looking at the costs and calculating components that could potentially be eligible, consideration could be taken into account for staff, utilities, bespoke hardware and application 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’s likely that your project will probably be covered as you might be by incredibly definition of the title ‘developing’ your item.

Research in to the application you use or plan to be using, games or app development as a general entire, and advancing current technologies with new innovations or inspirations are all areas which might be probably to become considered covered by the R&D umbrella.

Claiming R&D Tax Credits for Apps and Games
It ought to be noted that R&D Tax Credits are classed as state help, so when you’ve got applied for the Video Game Tax Relief (VGTF) and are a smaller or medium company, you should be conscious that you simply can’t claim both. The rules are different for big corporations, which may nonetheless be eligible for R&D tax relief claimed under these schemes just isn’t counted as state aid. Even so qualified guidance and consultation is advisable when you strategy to apply for greater than 1 scheme to perform out what reliefs will give you the greater advantages.

Effortless RnD assists in creating tax credit claims for the R&D Tax credits scheme and can assist you to uncover what parts of your project are eligible for tax relief, and ways to make sure you get all the advantage you might be entitled to. Get in get in touch with and see how much they are able to save you.