Tax partner Sue Crawford has been quoted by Screen Daily on the relevance of the EIS funding mechanism to the film industry.
Speaking with regard to the difficulties that producers and financiers have in using EIS, she states:
“EIS in the film and TV sector is pretty much in turmoil and it is all driven by the new risk to capital conditions.”
In reference to claims that HMRC are effectively blocking the creative industries from using EIS:
“I think the HMRC is overworked,” says Crawford. “The legislation can be exceptionally complex, and the position is not helped by HMRC’s apparent fear of anything linked to the film sector. This is presenting huge hurdles for EIS in this sector.”