They need "more details about the actual breaks" before partying hard - it all comes down to the "fine print." Many questions remain on what will be eligible. Will it be worth it?
Chancellor George Osborne has put aside £50 million for the scheme which will be distributed out over 2 years. There are no guidelines out yet from the Department for Culture, Media and Sport.
"We'll need more details about the actual breaks before we can get really excited," said Rodeo Games founder, Ben Murch. "It's a very positive message that they're even considering this now, when a couple of years ago it would have been unheard of! Not sure if this is going to help us at all. Like I say, it really depends on the details and fine print. It may turn out that we're not eligible or something along those lines. However, overall it's a huge step in the right direction."
Leeds-based Just Add Water feels the same: "About time," declared boss Stewart Gilray, "however we really do need to hear the details before we all get too excited." The studio is behind the HD remake of Oddworld: Stranger's Wrath.
Before the cheers can be official the UK must first get EU approval for the scheme as any member state must when it comes to helping out their domestic industries. This has been anticipated though and it's why it won't come into effect until April 2013. Law reforms are needed and the EU must decide how such a tax break would be regulated.
The big question though is what qualifies for the proposed financial incentives?
"It's now up to everyone involved to work together to ensure that the games industry takes advantage of the opportunities it has been given," said UKIE chairman Andy Payne, head of publishers Mastertronic and Just Flight.
"I know that UKIE and TIGA will be working with Government to make sure that production tax credits and other measures outlined in this year's budget deliver real benefits for the UK games industry."
"One word I would like to see being used more often? Collaboration. It is much under rated."
More details needed before UK devs "can get really excited" over tax breaks
22 March 2012 | By Simon Priest