U.K. Film Finance Schemes Under Inquiry: Report

By | Thursday June 21, 2012 @ 1:18pm PDT

Are high-net-worth individuals involved in British film finance schemes secretly stashing money offshore? Revenue & Customs, the UK equivalent of the IRS, believes that “billions of pounds in tax revenue have been lost” as tax breaks are sold to wealthy investors enabling them to avoid or defer tax, according to an article in today’s Times Of London. Revenue and Customs told The Times that 600 film schemes are under inquiry with one official saying that overall they are “a £5B risk for us at least… Someone puts in money, and then the film scheme promoter says, ‘We’re going to lend you ten times that’… so all you do is generate tax relief and make a shedload of money for nothing.” The report has stirred the ire of one company mentioned, Ingenious Media, which surmises the anonymous Revenue source is “a rogue inspector who has no authority to make such a misinformed statement.” Ingenious says it has instructed its lawyers “to take appropriate action.” Read More »

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Ingenious Hires Weinstein Exec Lucas Webb To Run Fox Searchlight Deal

By | Wednesday March 30, 2011 @ 6:12am PDT

EXCLUSIVE: Ingenious, the UK private-equity fund that backed Avatar, has poached Lucas Webb, The Weinstein Company’s man in London, to run its Fox Searchlight arm. The financier announced in January that it was going to make between two and … Read More »

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Fox Searchlight & UK’s Ingenious Commit To Financing and Distributing British Films

London-based Ingenious Media, the private equity fund which backed Twentieth Century Fox’s Avatar, has struck a deal with Fox Searchlight to make between 2 to 3 movies in the $10M-15M range. Ingenious could inject up to $14 million annually into … Read More »

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Working Title Boss Invests In Online Game

By | Thursday July 15, 2010 @ 4:16am PDT

We-R-logoEric Fellner, co-chairman of Working Title, is backing a new online game being created by the UK producers of Kate Modern. The game, which will launch in November, claims to blur the lines between film and gaming.

Tom Thirlwall, co-founder of We … Read More »

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Ingenious Exec To Run Project Canvas

Kip_Meek(Kip Meek, head of Ingenious Media’s consulting arm, is set to be named chairman of Project Canvas later this week, according to the Guardian. Project Canvas is the groundbreaking TV service that’s being launched by the UK’s terrestrial broadcasters. Canvas declined … Read More »

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Protagonist Raises Game With New Fund

By | Wednesday June 23, 2010 @ 3:06am PDT

EXCLUSIVE: The sales agent has closed a multi-million dollar facility it wants to use for bigger films. Protagonist can use the money for either minimum guarantees or development funding. It’s already eyeing one ambitious yet-to-be-announced Film4 project. Protagonist was set up in January 2008 to sell films backed by Film4, … Read More »

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