UK finance, post-production and distribution outfit Future Film Group has clinched a multi-picture sale-and-leaseback arrangement with Renaisance Films kicking off with Paul McGuigan's Morality Play. It has also teamed up with German film fund MBP and UK production company Y2K Productions to finance Puckoon, a comedy currently in post-production with Elliott Gould, Richard Attenborough, Sean Hughes, John Lynch and David Kelly.

The deal with Renaissance covers Renaissance-produced British films which qualify for tax right-offs under Section 42 Finance Act (no budget limit) and Section 48 Finance Act (£15m maximum budget); Future had already worked with Renaissance on The Luzhin Defence starring Emily Watson and John Turturro.

Morality Play is a medieval thriller starring Willem Dafoe, Paul Bettany, Brian Cox and Gina McKee; budgeted at $14m, it was shot partly on location in Spain.

Future has also launched a new sales and leaseback product which offers up to 12% savings on production costs. Called Facilities4Finance, the new service allows it to "invest the full 12 per cent benefit in the production as production finance." This funding is specifically allocated to meet certain budget items including CGI and Digital Effects, Sound post production, editing, laboratories, titling, music, insurance, completion bond, equipment and film stock.

Puckoon is a black comedy based on Spike Milligan's first novel about the sleepy village of Puckoon, a town on the border between Northern and Southern Ireleand in 1924. Beyond Films has international sales rights. Future managing director Stephen Margolis has come on the film as co-executive producer.