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Ingenious use the EIS to cashflow contracts such as a TV broadcast licence. So in return for the EIS tax reliefs that are supposed to benefit higher risk start ups, investors get a virtually guaranteed return of their capital, and even if they get no return from the trade the 30% tax break offers a 42% return over three years tax free. One of the reasons it is so hard for indie producers to raise EIS is that Ingenious soak up all the capacity with these structured projects.