A big rise in VAT has been announced in the latest and the gaming industry’s tax relief has been withdrawn. Chancellor of the Exchequer George Osborne announced that VAT will rise from 17.5 per cent to 20 per cent next year in his first for the Conservative/Liberal coalition government. Because consumer electronics tend to be among the higher value objects that people buy, VAT increases tend to hit sales harder. With VAT calculated from the value of the product, the price of things like televisions is likely to increase significantly. The increase will kick in from January 4 2011, which at least gives you a little time to rush out and buy ’s Kinect for 360 , your Nintendo 3DS or PlayStation Move

2bc4896b4a00 200.jpg Budget delivers VAT and gaming tax relief blows

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Budget delivers VAT and gaming tax relief blows