View more on these topics

EIS plays cowboys and indians

Cowboys and Indians is an enterprise investment scheme (EIS) that aims to raise up to £3.5m to finance a British comedy drama of the same name.

The company is trying to emulate the success of films about British Asians such as Bend it like Beckham and East is East by producing a film about an amateur football team being sponsored by an Indian restaurant. The producer is Ron Purdie, whose credits include Minder, Death on the Nile and Hamish Macbeth, while the cast includes Gary Mavers from TV’s Peak Practice.

Investors will get the standard income tax relief and capital gains tax deferral that comes with EIS investing and early investment also provides them with the chance to appear in the film as extras.

John Adams, director of the company, says the British film industry is dead in terms of financing and that EIS schemes are an alternative way of raising money. He adds that the company needs to raise the full amount to finance a cinema release, but the minimum amount the company needs to start filming in October 2002 is £500,000. However, the minimum amount will be enough only for a TV or video only release.

This EIS could attract investors who have an interest in films but as an investment, the film industry is high risk because of its speculative nature. Even if the film gets off the ground, it may not generate enough revenue for investors to see a return and losing capital is also a possibility.

Recommended

93% of IFAs say Stakeholder-type plans fail

More than 90 per cent of IFAs believe the stakeholder-type products advocated by Sandler will fail to sell, according to the first survey on the long-awaited report.The Money Marketing survey, which sought the views of over 400 RIs at the national Positive Solutions forum in Manchester this week, found that 93 per cent of IFAs […]

Raising Standards praises members on Sandler

The Raising Standards initiative has congratulated the companies which have signed up to its quality mark scheme and claims they have already delivered on many Sandler Review recommendations.It is now calling on the rest of the industry to follow suit. Raising standards project director Stuart Tragheim says: “Today&#39s report acknowledges that the Raising Standards quality […]

ABI gives Sandler qualified welcome

The ABI has given the Sandler report a qualified welcome.ABI director general Mary Francis says: “The Sandler report can help deliver confidence for consumers and stability for the industry. Many of Ron Sandler&#39s ideas reflect best practice and new thinking in the savings industry. We particularly welcome his support for simpler products and less red […]

Inter-Alliance buys HST Financial

Inter-Alliance has snapped up rival IFA group HST Financial for an undisclosed sum.Inter-Alliance is also raising £10 million through a new share placing with Norwich Union and Friends Provident investing £5m each.The move will increase Inter-Alliance&#39s number of RIs by approximately 30 per cent to 1,300 from 1,000.The deal for HST will be on a […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment