Risk to capital requirement: HMRC’s cases flop
Two film industry companies used SEIS and EIS to raise funds, but HMRC asserted that the companies did not meet the risk to capital requirement.
Replies (1)
Please login or register to join the discussion.
Not my area but ... hold the front page ... my sympathy is entirely with HMRC in these cases!
A simple change to the law would have the required (or at least intended) effect:
* make one of the conditions that film companies have to be making their 2nd (or later) film with a cost-base of at least 75% of the film for which the application of a scheme is being claimed.