View more on these topics

Carnaby EIS finances Spivs

Carnaby Productions is aiming to raise up to £5m through an enterprise investment scheme (EIS) to finance Spivs, a comedy film set in London&#39s East End.

This EIS follows in the footsteps of Carnaby Films, a previous EIS which was used to finance A Flight of Fancy, a film which starred Maureen Lipman, Samantha Beckinsale and Samantha Janus. The company hopes to create a database of EIS investors who might want to invest in more Carnaby productions at a later date.

The production team for Spivs is already in place and this includes producer Hamish Skeggs, casting director Lucinda Syson and editor Alan Strachan. As the script for Spivs is still being developed, nobody has been cast in any of the roles. However, actors who are reported to be interested in appearing include Michael Greco, who played Beppe in EastEnders.

The company plans to generate revenue through cinema, video and DVD releases, as well as merchandising, soundtracks and airline screenings. It will employ an international sales agent to promote the film outside the UK.

Investors in this EIS are likely to be those looking to take advantage of the tax breaks available through investment in the British film industry. To encourage more investment, the Government now allows investors to get a tax deduction of up to 100 per cent for the cost of producing or buying British films with budgets that do not exceed £15m.

This may generate interest among investors, but it is also likely to generate increasing competition for investors as more companies adopt the EIS route.

Recommended

West Brom and NU link arms for bond

West Bromwich Building Society has teamed up with Norwich Union to offer the combined portfolio plus bond.This combination bond consists of a one-year fixed-rate bond from West Bromwich Building Society and a unit-linked bond from Norwich Union.Investors with at least £10,000 must put 30 per cent of their capital into the West Bromwich guaranteed growth […]

&#39£1m stakeholder lottery could boost pension savings&#39

The Government should introduce a stakeholder lottery paying out £1m a month to encourage low and middle-earners to save through a pension, according to a senior economic adviser to the Government.Dr Ros Altmann says stakeholder has failed to penetrate its target market and the Government needs to take drastic action to increase its take-up.But she […]

Outside Edge: Nick Bamford

Alan Pickering has had an unenviable job to do. He was tasked with making proposals to simplify a complex set of pension rules.Only time will tell if his proposals achieve this aim. As he stated when interviewed by BBC recently, he and his report might be condemned to the dustbin of history. At a time […]

Property boom set to continue

The property boom looks set to continue, with the majority of buyers believing any rise in interest rates will be merely a temporary blip and will not temper the market, according to Yorkshire Bank.Its latest housebuyer survey reveals that almost two-thirds of homeowners believe the value of their property will rise in the next year, […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment