View more on these topics

Theatreshare of dreams

Theatreshare is a theatre production company aiming to raise £2m through an enterprise investment scheme (EIS) share offering.

The company will use the capital raised to fund musicals, plays and other productions in London&#39s West End. In its first year it will put on Chitty Chitty Bang Bang, Our House and Bombay Dreams.

Eighty per cent of the funds raised will go towards productions that are most likely to make a profit for investors. The remaining 20 per cent will help new projects get off the ground, including links with the Royal Court and Almeida theatres.

Theatreshare has an agreement with Andrew Lloyd Webber&#39s Really Useful Theatres, which owns and manages 12 West End theatres including the London Palladium and Theatre Royal, Drury Lane. Really Useful Theatres will provide Theatreshare with office space, facilities and management assistance. It will also provide investors with benefits such as complimentary tickets, VIP visits and special previews.

An EIS has the same tax incentives as a venture capital trust, but its capital gains tax (CGT) deferral is unlimited while VCTs limit CGT deferral to £100,000 for each person in each tax year.

Theatreshare may attract investors with an interest in the theatre who may have a high CGT liability as the result of selling a business or other assets. But investing in a single unquoted company is high risk. Investors could end up losing their capital, even if just one production does not pull in the crowds. It may also be difficult for investors to sell their shares.

Recommended

Executive decisions

As everyone in the industry is clearly aware, the 1 per cent regime has had a massive effect on pension products in the group and personal market. The pressure of the low-charging environment is fast taking hold on the executive pension market as well.But how many providers of executive personal pensions meet the 1 per […]

Online broker Comdirect enables Sipp transactions

Online stockbroker Com-direct has expanded its phone and internet services to include a Sipp dealing account.The self-select dealing account will provide a specialised broking service offering access to a wide range of investments including UK and international equities, unit and investment trusts, exchange traded funds and gilts.There is no account fee so investors can deal […]

Providers in talks over cap-busting confusion

Product providers are believed to be locked in discussions with the Department for Work and Pensions and Opra over whether they are allowed to bust the 1 per cent charge cap on stakeholder and then rebate the difference.There is confusion surrounding whether firms are allowed to exceed 1 per cent charges and redress the balance […]

BFS brings clarity to split caps

BFS Investments has updated the literature and statistics on its IFA website, to bring enhanced clarity to their range of split-capital investment trusts.The website will now include further details of trust holdings, as well as a breakdown of cross-holdings in other splits.BFS director of retail products Nigel Sidebottom says: “Our aim is to develop the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment