MPs push to extend scope of R&D tax credits
Watson and Whittingdale want premises and IP costs included in relief
Labour MP Tom Watson and Conservative MP John Whittingdale have tabled an Early Day Motion to extend the current scope of R&D tax credits in the UK.
In April the Government increased the R&D tax credit from 175 per cent to 200 per cent, but Watson and Whittingdale are now lobbying for tax credits to include "costs incurred in development including premises costs and the cost of applying for intellectual property protection and design."
TIGA CEO Richard Wilson welcomed the renewed push, and called on the games industry to contact MPs urging them to sign the Early Day Motion.
"The Government was right to raise the level of qualifying relief in respect of the R&D Tax Credit in the March Budget," he said.
"It should now extend the scope of R&D tax credits to include costs incurred in development including premises costs and the cost of applying for intellectual property protection and design."