The Budget Statement announced measures for 'ensuring that EIS is not used as a shelter for low-risk capital preservation schemes'. Further clarifications of the impact in practice are contained in the Government's response to the Patient Capital Review, in which it was stated that new 'principles-based' rules will be introduced. New draft guidance is expected to be published in the next two to three weeks and industry will be provided with an opportunity to comment. The main takeaway at this stage however was that the Government response makes clear that Film and Television Production are not being added to the list of activities excluded from EIS and SEIS Schemes.
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