EIS specialist Formosa Films has announced details of its inaugural Seed EIS (SEIS) Development slate.
UK-based Formosa Films, the production company behind Clubbed and Twenty8K, is currently developing three titles through SEIS.
- Unspoken, billed by Formosa as “Wicker Man set on a Greek island,” a thriller scripted by veteran TV writer Paddy Fletcher. The producers are Formosa’s Martin Carr and Neil Thompson
- ESP, described as Formosa’s answer to Edge Of Darkness. Neil Thompson and David Kew (the duo behind Twenty8K) are co-directing, writing and producing the eco-conspiracy thriller. The story follows a Lithuanian law student who comes to London looking for her sister, who has disappeared. While in the UK, she blows open a scandal involving the disposal of toxic waste.
- Guilty, scripted by Scottish writer Claire Duffy, a contemporary film noir set in Boston. This is likely to be on a bigger budget than the other two films. Thompson will be attending the Strategic Partners coproduction market in Halifax, Nova Scotia, in September to look for North American partners.
Last month’s UK Budget confirmed that the SEIS Scheme will allow income tax relief of 50% for individuals who invest in shares in qualifying seed companies. The investment is limited at £150,000 per company — a small amount relative to most films’ budgets but nonetheless welcomed as a potential tool for film development. What makes SEIS especially attractive now is that the Government is also offering a one-off Capital Gains Tax exemption.
“It’s a great deal for investors,” Neil Thompson, who runs Formosa with Martin Carr, commented of SEIS.