Source · Select Committees · Culture, Media and Sport Committee
Recommendation 4
4
Rejected
Review Enterprise and Seed Enterprise Investment Schemes' impact on film sector finance access.
Recommendation
The Government should immediately review the impact of changes to the Enterprise Investment Scheme and Seed Enterprise Investment Scheme on the film sector to ensure producers can and do access the full range of finance for their films. It should report its findings to us within six months. (Recommendation, Paragraph 22)
Government Response Summary
The government rejects the recommendation to immediately review the impact of EIS/SEIS changes on the film sector and report findings, stating it will continue to work with stakeholders but has no plans for a specific review.
Government Response
Rejected
HM Government
Rejected
The Enterprise Investment Scheme and Seed Enterprise Investment Scheme are designed to encourage investment in higher-risk, early-stage companies which face the biggest challenges in accessing growth capital. They are open to the film sector, with HMRC guidance including a specific example of a qualifying film company. Where screen companies meet the eligibility criteria and the aim of the schemes to grow and develop their businesses in the long term, these schemes can be seen as viable avenues to support early stage film, TV, animation and video games businesses. The government will continue to work with stakeholders to ensure the effectiveness of these schemes. We do not plan to undertake a specific review of the impact of changes to the schemes to present to the Committee.