Statutory Instruments
Corporation Tax
Made
11th January 2018
Laid before the House of Commons
15th January 2018
Coming into force
6th February 2018
The Treasury, in exercise of the powers conferred by section 182(3) of the Finance Act 2016(1), make the following Regulations:
1. These Regulations may be cited as the Video Games Tax Relief (Amendment of Tax Advantages in Schedule 24 to the Finance Act 2016) Regulations 2018 and come into force on 6th February 2018.
2. Part 1 of Schedule 24 to the Finance Act 2016 (tax advantages constituting the grant of state aid to which section 180(2) applies) is amended as follows.
3. In the Table entitled “Creative tax reliefs” after the entry relating to “Television tax reliefs” insert—
| “Video games tax relief | Part 15B of CTA 2009(2)” |
Mark Spencer
David Rutley
Two of the Lords Commissioners of Her Majesty’s Treasury
11th January 2018
(This note is not part of the Regulations)
These Regulations amend Part 1 of Schedule 24 to the Finance Act 2016 (c. 24) (“FA 2016”) by adding video games tax relief to the list of tax advantages to which section 180(2) of FA 2016 applies. Section 180(2) of FA 2016 enables HM Revenue and Customs (“HMRC”) to collect information about State aids received by beneficiaries in accordance with relevant EU obligations (as defined in section 182(1) of FA 2016) and publish that information (in accordance with section 181 of FA 2016). The provisions relating to video games tax relief are found in Part 15B of the Corporation Tax Act 2009 (c. 4).
A Tax Information and Impact Note covering this instrument was published on 16 March 2016 alongside FA 2016 and is available on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm. It remains an accurate summary of the impacts that apply to this instrument.
Corporation Tax Act 2009 (c. 4); Part 15B was inserted by paragraph 1 of Schedule 17 to the Finance Act 2013 (c. 29).