"The new tax rules are likely to be based on the
existing tax system for UK film producers which is generally
thought to have brought about £1billion of investment into
the UK last year. If the Chancellor's latest Budget proposals
give a similar boost to the video games, animation programmes and
'high end" TV programmes, this will be an excellent boost
for the UK's creative industries. We have yet to see the
detail, but this sounds very promising," says Andrew Wilkes,
head of London corporate tax, Smith & Williamson, the
accountancy and investment management group.
The government has announced its intention to introduce tax
reliefs for the production of video games, animation programmes and
"high end" television programmes in the UK. This will be
welcomed by these creative industries and the government alike who
have been concerned by domestic projects being moved overseas to
countries that offer tax breaks and by leading overseas producers
feeling reluctant to come
