TaxCorporate TaxMr Blonde cuts a deal with UK tax scheme

Mr Blonde cuts a deal with UK tax scheme

Reservoir Dog's Mr Blonde, US film star Michael Madsen, is hoping to finance his new London-based feature film through the UK Enterprise Investment Scheme.

Madsen, best remembered as the man who sliced off a police officer’s ear in Quentin Tarantino’s gangster classic, is hoping to raise funding for the film through an EIS company called Red Light Runners plc.

To help Madsen in financing his ‘sociological heist’ will be accountants from mid-tier firm Baker Tilly, with legal advice from Marriot Harrison.

EIS-qualifying companies have proved very popular with investors as they guarantee that shares bought in the company can be sold at a later date without having to pay any capital gains tax.

For Madsen’s film to qualify the company will have to raise £2m from investors by 17 July. Once this is reached the company then hopes to raise a further £8m in total by 15 August.

Eight million shares are being offered to UK investors at £1 a share and subscription can be made online at www.redlightrunners.co.uk.The film, a crime thriller called ‘Red Light Runners’ is be shot and set in the capital and stars Madsen and fellow Reservoir Dogger Chris Penn aka Nice Guy Eddie as well as former East Enders star Martin Kemp.

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