Video Games Tax Credit Loan
Available for both TV & film, as well as Video Game Development Companies, Tax Credit Loans enable you to receive advance funds against future tax credits you will receive from HMRC.
We’ve offered this type of loan for over 15 years, so we have extensive experience and expertise when it comes to helping clients in the Creative Industries.
How does it work?
- There is a minimum lending value of £100,000
- We can lend up to 90% of the tax credit amount (subject to status).
- The usual term of this lending product is under 12 months, however no two businesses are the same. We’ll work with you to shape the deal to best suit your requirements.
- The loan can be drawn against both money spent and future spending (terms and conditions apply).
- We use a third party panel law firm that specialises in this field of work for the paperwork associated with this product.
1
Is a UK tax resident
2
Is actively engaged and responsible for the designing, producing and testing the game
3
Will directly negotiate, contract and pay for the rights, goods and services in respect of the game.
Terms and conditions
*The VGDC is permitted to subcontract services, however this is limited to a cap of £1,000,000 per game in order to remain eligible for the UK Tax Credit.
The client will be required to provide an opinion letter from an accountant who will confirm the value of the tax credit they are entitled to.
Barclays will also require confirmation that the BFI have signed off the project in question to ensure this qualifies for tax credits.