Innovative Film Financing
There is no doubt soft money, tax breaks and investments-in-kind have played a valuable role in film making. However, there is always a need for pure equity as invariably this equity unlocks all the above other elements; but raising said equity invariably proves to be a stumbling block.
The Exchequer made (favourable) changes to the Enterprise Investment Scheme (EIS) in the November 2017 budget by doubling the maximum investment in EIS schemes from £1m to £2m. From April 6 2018 an individual investor will now be able to earn up to £600,000 in tax relief, up from £300,000 in the current tax year. Investors earn 30 per cent tax relief on investments in EIS as an incentive to drive funds towards higher-risk companies. For lower budget films and development slates this could prove to be invaluable and instrumental in green-lighting.
Jay is a specialist in both UK and international tax planning and has almost 40 years’ experience in advising clients ranging from public companies and substantial private companies to local family businesses. He will explain, clearly and simply, the added benefits and workings of EIS and SEIS in film financing.
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