How to get your film funded using the EIS, SEIS and UK film tax credit, podcast with Ivan Clements

Money. It’s the biggest problem any filmmaker faces.

Great ideas are worth diddly if you can’t shoot, edited and get your film out there – and to do that, even at the most microbudget level – you will need cash.

In this podcast with producer Ivan Clements, we talk about getting your film financed using the EIS and SEIS, a kind of taster for our one day workshop in July. Play below.

If you think about your film as a pie, there are lots of sources of money that could make up the various slices such as…

  • Your own money.
  • Freebies (money not spent).
  • Money from friends and family.
  • Money from crowdfunding.
  • Registering for VAT (this will save you 20% of your spend).
  • UK tax credit (again another 20% of your spend).
  • Pre sales and minimum guarantees from sales agents (unlikely these days but possible). Funding bodies like the BFI – possible, but you will probably get stuck in endless hoop jumping and experience a loss of control over your projects destiny.
  • And of course, investors, who will make up the biggest part of the pie.

Investors are where SEIS and EIS come in – depending on your investors tax position and the film tax credit, it’s possible to guarantee nearly 70% of an investors money back. That’s crazy insane and makes investing in you and your film so much more attractive. Say that out load, ‘I can guarantee a return of nearly 70% of your investment… and who knows, my film could be the next ‘Paranormal Activity’, ‘Winters Bone’ etc’

Remember, there are two kinds of investors – first, there are those happy to take a punt (like your friends and family) and second, those who want to look at the bottom line and drill down into the detail of the deal and studying the numbers (think Dragons Den). With EIS and SEIS, by reducing their exposure, you start nudging those investors more toward the punt camp as their risk is hugely reduced.

Ivan is running a one day workshop for us called ‘How To Fund A Film‘, in July…. http://www.howtofundafilm.com

In this workshop he will work through the 27 specific steps you will need to follow to successfully run an EIS or SEIS company and guarantee a significant return on your investors cash – the 27 steps are outlined here… http://www.howtofundafilm.com/schedule/

The bottom line is this – the combination of EIS / SEIS, film tax credit and a little crowd funding to bridge the gap could be all you need to get financed, on set and 100% in control of your film and destiny this year.

It’s time to put away the begging cap and turn your film into a financeable proposition that is irresistible to investors

More info on the workshop here… http://www.howtofundafilm.com

In the podcast I refer to a blog I wrote about Funding v Financing – you can read it here… http://www.chrisjonesblog.com/2011/01/a-guide-to-film-finance-and-funding-in-2011-are-you-going-to-get-funded-or-financed.html

Onwards and upwards!

Chris Jones
My movies www.LivingSpiritGroup.com
My Facebook www.Facebook.com/ChrisJonesFilmmaker
My Twitter @LivingSpiritPix

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Comments

  1. Nic W says:

    Great stuff.

    Maybe it’s in the 27 points, but worth mentioning that SEIS also has a further 50% rebate on losses (after the 50% rebate) after 3 years (ie 25%), plus until April capital gains can be offset to get another 28% rebate, equaling for some investors 103% protection – or 75% without capital gains. And inheritance tax can be offset too.

    I agree about the risks & hoops of soft money, although find they vary quite a bit. Since the last book I applied/co-applied for seven, got five, but only took three – as sometimes the delivery requirements and contracts were so restrictive – yet it can also be much more light touch. iFeatures & Microwave are managed funds with training an integral part, but I *think* something like the Screen Yorkshire 50% EU match funding is based more around them doubling the money you will spend there with less creative interference. Coupled with SEIS and the Tax Credit it’s quite an offer.

  2. Nic W says:

    (actually ignore that, Screen Yorkshire isn’t really soft money – they’re looking for a return and clearly commercial projects)