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Enterprise Investment Scheme to cover 40 per cent of road movie budget.
By Jonathan Boyd, Editor in Chief Friday May 28, 2010
Collective Films has launched at £0.4m EIS fund to produce Coasting, a road movie and romantic thriller budgeted at £1m.
Other financing has already raised 60 per cent of the required budget. The EIS currently provides tax relief of up to 60 per cent for individuals and bare trusts. The investment will be free of inheritance tax if held for at least two years.
The fund is targeting returns of 30 per cent, with qualifying investors being offered the chance to appear in the film with family and friends.
Stephen Cranny, Collective Films producer says: "The EIS structure provides a highly tax-efficient way for investors to access a wonderful script and cast, an experienced team with a solid track record of over 50 successful films and a sound distribution strategy."
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