Escolar Documentos
Profissional Documentos
Cultura Documentos
Cosgrove Hall
40 years of success
Our Past
Our past
Our Present
Our Present
Funding Pip!
The budget to make 52 x 11 minute
episodes was 5.1 million
Walt Disney
Creative
Producer
Director
Composer
Human Resource
Finance
Distribution
Toyeticness
Licensing
Potential
Danger Mouse was watched by over 21 million viewers
Jakers generated over $18 million in global broadcast sales
Thomas and Friends has produced over
200 million in merchandising sales
each year for the last 14 years
Bob the Builder has brought in over
$4.5 billion in revenues since 1999
Peppa Pig generates 150 times its
original production budget in
merchandising sales every year
in the UK alone
* Source: Company Sources
Key Features
Up to 50% Income Tax Relief*
100% Investment Allocation
Up to 5% Adviser Charge (any combination)
3 to 5 year exit Strategy
Studio Tours, Unique Material, Privileged Access
Key Risks
Liquidity
Production overrun
Audience appetite
Merchandise Sales
Talent issues Actor/Actress
Questions
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22
Goldfinch Entertainment
Our Vision
Goldfinch Entertainment represents a
gold standard in entertainment and
media investment.
Structuring each in a bespoke manner,
selecting only the most commercially
appealing with the best returns.
Revolutionising film and media
investment.
Goldfinch Entertainment
Goldfinch Entertainment
Goldfinch
Maximising revenues.
Goldfinch Entertainment
Goldfinch Entertainment
Founded in 1933
Goldfinch Entertainment
Goldfinch Entertainment
Goldfinch Entertainment
Goldfinch Entertainment
Goldfinch Entertainment
Goldfinch Entertainment
Our Fundamentals
Industry leading team and experience.
Strict criteria for projects to be taken on.
Innovative structuring.
Investors sit in first position in many cases and
if not their position is NOT marginalised
Where appropriate HMRC Advanced Assurance
will be attained and the projects may be
Government backed through the UK CITR to
minimise investor risk.
Projects chosen for their commercial potential.
DIstribution is at the centre of all decisions
made.
Transmedia approach to maximise project
revenue.
Holistic service from project inception to
distribution.
Organic growth of Goldfinch through key
collaborative partnerships.
Goldfinch Entertainment
Goldfinch Entertainment
OUR
PRODUCTS
EIS
Goldfinch Entertainment
Goldfinch Entertainment
OUR
PRODUCTS
10
Goldfinch Entertainment
Goldfinch Entertainment
OUR
PRODUCTS
SEIS
SEIS companies can raise up to 150k with generous
income tax, capital gains and inheritance tax relief for
investors as in the summary below. We have a wide
range of SEIS projects covering all the entertainment
sectors, many genres, and a varying returns for
investors.
11
Goldfinch Entertainment
Goldfinch Entertainment
OUR
PRODUCTS
SEIS Fund
As stated above our range of SEIS companies lends itself to a portfolio
approach for investors or IFAs, however for those wishing to benefit from
this approach but executed and managed by an experienced fund
manager can now invest in our Goldfinch SEIS Fund managed by Kin
Capital.
The main benefit of this as with normal SEIS investment is the 50%
income tax relief and other tax benefits although the fund delivers this
with a diverse portfolio of entertainment sector businesses. Other key
features of our fund include:
It should also be noted that the fund will be allotting shares throughout
the current tax year. It is therefore possible to invest and offset the
income tax benefits against the 2014/15 tax year through the use of SEIS
carry back. More information on how this is possible is available here on
the gov.uk website;
www.gov.uk/seed-enterprise-investment-scheme-background.
ForGoldfinch
more Entertainment
information on Kin Capital visit their website at
www.kincapital.co.uk.
13
Goldfinch Entertainment
SEIS
Income
Tax Relief
CGT Relief
IHT Relief
Business Property Relief; after 2 years the investment sits completely outside
your estate
ROI
Potential
Investor
Benefits
14
Goldfinch Entertainment
Film premieres, VIP treatment, attend film festivals, Exec producer credits
available,
involvement in development process, meet the cast and crew, appear as an
extra,
exclusive previews, pre-release screenings
Goldfinch Entertainment
Projects of Note
Goldfinch XX - Under Milk Wood (Captain Cat Limited)
Goldfinch XVI - KidsCave Entertainment
Goldfinch XVII - Burn Burn Burn
Goldfinch XXXV - Three Headed Eagle Limited
Goldfinch L - The Eichmann Show
Goldfinch LIII - Building Jerusalem
15
Goldfinch Entertainment
Goldfinch Entertainment
Allenbridge
:
Low Risk
for EIS
16
Goldfinch Entertainment
Coutts:
The Gold
Standard
EISA Awards :
Best Newcomer
Shortlisted 2014
Growth Investor
Awards : Industry
Game Changer
Shortlisted 2015
Goldfinch Entertainment
Key Points
Completely unique
Something to suit all
investors
Healthy returns
Expert team
17
Goldfinch Entertainment
10/21/15
38
39
For professional advisers only and should not be relied upon by retail clients
Oxford Capital has been managing tax efficient investments since 1999.
Partnership owned.
40
Growth
Infrastructure
Client
Motivation
Potential for
investment
return
Offering
41
Advisor Support
42
AGENDA
43
44
BPR BACKGROUND
UNDERSTANDING THE IHT PROBLEM
Assets in excess of 325,000 (the nil rate band) subject to IHT at 40%.
New main residence nil rate band proposed from April 2017.
Ageing population.
45
BPR BACKGROUND
THE IMPACT OF AN AGING POPULATION
46
BPR BACKGROUND
RISING HOUSE PRICES
Region
5 years
ago
Current
value
% change
London
524,300
672,500
28.3%
North
228,900
233,800
2.1%
Yorks &
Humb
223,400
260,100
16.4%
N. West
251,100
267,700
6.6%
E.
Midlands
206,700
247,200
20%
W.
Midlands
266,600
249,400
6.9%
E. Anglia
237,000
299,200
26.2%
S. East
377,400
490,400
29.9%
S. West
345,600
377,400
9.2%
Scotland
257,000
253,300
-1.4%
UK
average
290,200
323,100
11.3%
47
BPR BACKGROUND
ESTATES PAYING IHT EXPECTED TO DOUBLE
48
Tax year
Proportio
n of
deaths
subject
to IHT
(%)
Deaths
(000s)
Number
of deaths
subject
to IHT
(000s)
2013-14
4.8
548.7
26.2
2014-15
6.5
547.9
35.9
2015-16
8.0
547.6
43.8
2016-17
9.0
548.0
49.1
2017-18
9.6
549.0
52.7
2018-19
9.9
550.6
54.5
Source OBR
2013.
49
BPR BACKGROUND
HISTORY OF BPR
50
BPR BACKGROUND
THE THREE PILLARS OF ESTATE PLANNING
51
BPR BACKGROUND
KEY BENEFITS
FLEXIBILIT
Y
AVAILABILI
TY
SIMPLICIT
Y
TIMELINES
S
IHT benefits are achieved after just two years and if held on
death.
52
BPR BACKGROUND
THE PROBABILITY OF SUCCESS
BPR solutions provide freedom from IHT after just two years.
Male
Female
Current age
Life
expectancy
Probability of
surviving two
years
Probability of
surviving
seven years
Life
expectancy
Probability of
surviving two
years
Probability of
surviving
seven years
65
18
97%
89%
20
98%
92%
70
14
96%
82%
16
97%
88%
75
11
93%
71%
12
95%
79%
80
88%
55%
91%
64%
85
80%
34%
84%
44%
90
68%
17%
73%
23%
95
53%
0%
58%
0%
Source: Office for National Statistics
53
54
56
LIFETIME GIFTING
A SIMPLE EXAMPLE
Value of transfer
428,000
425,000
57
100,000
20,000
EIS IN ACTION
LIFETIME GIFTING
428,000
Available to gift
58
328,000
100,000
Discretionary
Trust
BPR qualifying
assets
EIS IN ACTION
LIFETIME GIFTING
428,000
Available to gift
428,000
100,000
Discretionary
Trust
BPR qualifying
assets
Option 1
After two
years, transfer
to existing
trust
59
EIS IN ACTION
LIFETIME GIFTING
428,000
Available to gift
328,000
100,000
100,000
Discretionary
Trust (No.1)
BPR qualifying
assets
Discretionary
Trust (No.2)
Option 2
After two
years, transfer
to new trust
60
61
62
63
Without EIS
With EIS
1,325,000
325,000
Nil
1,000,000
1,000,000
Nil
60,000
Nil
MENTAL CAPACITY
POWERS OF ATTORNEY
64
BPR
PLANNING
IDEAS - RESTRICTIONS ON THE ABILITY TO MAKE
POWERS
OF ATTORNEY
GIFTS
Section 12, MENTAL CAPACITY ACT 2005 - SCOPE OF LASTING POWERS OF ATTORNEY,
GIFTS
(1) Where a lasting power of attorney confers authority to make decisions about P's
property and affairs, it does not authorise a donee (or, if more than one, any of them) to
dispose of the donor's property by making gifts except to the extent permitted by
subsection (2).
(2) The donee may make gifts
(a) on customary occasions to persons (including himself) who are related to or connected
with the donor, or
(b) to any charity to whom the donor made or might have been expected to make gifts, if the
value of each such gift is not unreasonable having regard to all the circumstances and, in
particular, the size of the donor's estate.
65
(a) the occasion or anniversary of a birth, a marriage or the formation of a civil partnership,
or
(b) any other occasion on which presents are customarily given within families or among
friends or associates.
The donor retains full access to the investment, together with the proceeds.
66
67
On sale, the proceeds will be in the estate of the client as BPR shelter is lost.
68
What if the client is forced to sell a BPR qualifying business as a result of a terminal
or critical illness? The illness may significantly reduce life expectancy. While sale
may qualify for Entrepreneurs Relief, any gains will be taxed at 10%*.
An investment into an EIS offers a potential solution given it attracts BPR qualifying
status after two years.
Without EIS
With EIS***
1,000,000
1,000,000
CGT payable
immediately*
100,000
Nil
900,000
1,000,000
360,000
Nil**
Balance passing to
beneficiaries
540,000
Gain on sale of
business
69
1,000,000
DESIGNING A CLIENT
RECOMMENDATION
70
A desire to balance the need for access with the opportunity to achieve a real return
71
Important to achieve a blend of liquidity options in order to allow the required level
of access whilst also providing the potential for returns.
72
DESIGNING
A CLIENTWHEN
RECOMMENDATION
CONSIDERATIONS
ASSESSING A CLIENTS NEED FOR
ACCESS
Not all clients will have the same need for access
Many clients who request higher levels of access rarely utilise it.
73
Future:
74
75
76
Client motivation
Strategy
Discretionary investment
management service
investing in companies that
qualify for BPR. Focus on
capital preservation.
Structure
Subscriptions invested in
one or more holding
companies depending on
portfolio selected.
Configurability
5 investment options,
offering the choice of
access, income and growth.
Flexibility
Subscriptions
Minimum of 50,000.
Minimum for top up
25,000. Subscriptions are
Target dividend
Income (p.a.)
Income
4%
Target capital
growth (p.a.)
Target access to
capital
6 months
Growth, with
access
3%
1 month
Growth, with
return
5%
6 months
4%
Up to 50% within 1
month, with the
balance after 6
months
2%
6 months
Growth, balanced
access and
return
Growth and
Income
77
2%
Q&A
78
REGULATORY NOTICE
We invest in companies for which there is no established or ready market for their shares. Capital is at risk and
investors should only invest if they can afford to lose their capital.Investment is of a long term and illiquid
nature.Past performance is not a reliable indicator of future results. Any tax advantages associated with investing
are subject to change and depend on the individual circumstances of each investor.
This financial promotion is issued and approved by Oxford Capital Partners LLP (Oxford Capital) 201 Cumnor Hill,
Oxford, OX2 9PJ. Authorised and regulated by the Financial Conduct Authority under number 585981. Applications
for investment in funds/portfolios managed by Oxford Capital may be made only on the basis of the relevant
Information Memorandum and application form, copies of which are available from Oxford Capital. No reliance is to
be placed on the information contained in this document in making any such application. This material is directed
only at persons in the UK and is not an offer or invitation to buy or sell securities. This document is not an offer or
invitation to invest in products managed by Oxford Capital nor does it solicit any such offer or invitation.
79
10/21/15
80
Disclaimer
For Intermediaries and client discussion purposes only
This Presentation is an exempt financial promotion for the purposes of section 21 Financial Services and Markets Act 2000, by
reason of article 16(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, which has been issued
by Kuber Ventures Limited, an appointed representative of Sturgeon Ventures LLP, which is authorised and regulated by the
Financial Conduct Authority. The presentation has been approved by Sturgeon Ventures LLP
The attention of prospective investors is drawn to the fact that amounts invested in Enterprise Investment Scheme (EIS) Funds
will be committed to investments which are of a long term and illiquid nature and are therefore not suitable for all investors.
Neither the EIS Funds nor the companies in which they invest will be quoted on any regulated exchange or market and,
accordingly, there will not be an established or ready market in participations in the EIS Funds or the underlying investments.
An investment in the EIS Funds will therefore not be easily realisable before maturity.
This Presentation does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not
authorised or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is
unlawful to make such an offer or solicitation. It is the responsibility of each recipient (including those located outside the UK) to
satisfy itself as to full compliance with the applicable laws and regulations of any relevant territory in connection with any
application to participate in the EIS Funds including obtaining any requisite governmental or other consent and observing any
other formality presented in such territory.
You should be aware that investment values and any income from them may go down as well as up and you may not get back
the amount you originally invested. No person has been authorised to give any information or make any representation
concerning the EIS Funds other than the information contained in this Presentation or in connection with any material or
information referred to in it and, if given or made, such information or representation must not be relied upon. In accordance
with COBS 2.4 of the FCA Handbook the information has been verified to the best our ability. All statements of opinion or belief
contained in this Presentation and all views expressed and statements made regarding future events represent Kuber Ventures
Limiteds own assessment and interpretation of information available to them as at the date of this Presentation.
Kuber Ventures Limited is not a tax adviser and you should independently verify the financial planning strategies outlined in this
presentation
My background
Learning Objective
30 Nov 2016
1 year
No CGT on death
N.b. Post death profits subject to CGT
Replacement Property
Date of
death
Cash (not
qualifying)
Relevant business
property
2 years ownership
Portfolio
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Spend
Cant
Spend
Investment
Replacement Property
Look back 5 years
2 years ownership in 5 years
Investment Options
Enterprise Investment Scheme
Unlimited CGT deferral
Maximum income tax claim 300k
- 600k if carrying back
Carry back available for income tax
IHT efficient investments
Formally known as BPR
AIM ISAs
200,000 per annum
Seed Enterprise Investment scheme
100,000 per annum for income tax and CGT
Carry Back
Liquidity
Valuation post
investment
Income
Other tax
reliefs
EIS
Yes
AIM only
Normally book
cost
Occasionally
but usually no
Income tax
CGT
deferral
SEIS
Yes
No
Could be 0
immediately
post investment
Unlikely
Income tax
50% CGT
relief
Relevant
property
Yes
Yes with
caveats
Normally book
cost
Normally
None
AIM
Yes
Matched
bargain
Market value
Sometimes
ISAs and
EIS
portfolios
VCT
NO
Yes discounts
Discount to book
cost
Income tax
only
SUITABILITY CONSIDERATIONS
Custodian account
Administration
management
Due diligence
Funds under
influence
Adviser
charging
Operational
efficiency
Manager of
managers
Diversification
Tax
structure
Vintage
Sector
Provider/
Manager
Funding
stage
Underlying
company
What next?
Consider opportunities within your client bank
45%
tax
CGT
IHT
LTA
Sols
and
accts
www.kuberventures.com
Further information
10/21/15
Mariana
Post Budget
EIS Planning
Disclaimer
This presentation is prepared by Mariana Distribution LLP.
Mariana Distribution LLP is an appointed representative of Mariana
Capital Markets LLP (Mariana) which is authorised and regulated by the
Financial Conduct Authority (FRN 551170).
This presentation has been prepared for information purposes only. It
has not been approved by Mariana as a financial promotion under s21
of the Financial Services & Markets Act 2000. It does not and is not
intended to constitute or form part of an offer, recommendation or
solicitation to buy or sell a financial product.
Any potential investor in a product referred to herein should satisfy
themselves about the terms of the investment, the related risks and its
suitability having regard to their individual circumstances.
102
Agenda
Introduction to Mariana
EIS Refresher
The Government Subsidy Gap
The Mariana Water Turbines EIS
Planning Ideas
103
Interbank broking
Asset Management
Market Strategy
Tax Advisory
104
105
Up to 30% income tax relief available on EIS investments of up to 1 million in any tax
year
Also available on 1 million carried back to the previous tax year
Gains can be deferred that crystallised 36 months prior and 12 months post investment in
to the EIS
3. IHT shelter
As long as the shares have been held for 2 out of the last 5 years, and at the time of
death, the value of the EIS investment will be exempt from IHT
106
107
108
Mariana
Water Turbines
EIS
110
111
EIS
Company 1
Water
Utility
Company
112
113
EIS Planning
Ideas
Year 2
Year 3
50K
50K
50K
15,000 of
income tax
relief
15,000 of
income tax
relief
15,000 of
income tax
relief
Year 4
115
*Assumes each investment preserves its value and the investor continues to have over 15,000 of income tax paid in each tax year
500K property
with 300K gain
84K
tax bill
300K EIS
investment
200K cash
116
50K
dividend
12,500
income tax
liability
Option 2
50K
dividend
invested in
EIS
15,000
income tax
relief
52.5K;
50K EIS investment
2.5K extra tax relief
117
What next?
Client meetings
Tax advisory:
- Non doms
- Trusts
- Offshore companies
- Corporate restructuring
- Inheritance tax
- R&D tax credits
- Capital allowances
- Withholding tax
118
10/21/15
October 2015
Presentation by:
John Marsden
Founder and Managing Director
Innvotec Ltd
This presentation is approved by Innvotec Limited which is Authorised and
Regulated by the Financial Conduct Authority (FCA).
The presentation is for Professional Advisers only.
SEIS
30%
Annual Limits
50%
1m
100k
SEIS
Annual Limit
Unlimited
100k
Deferral
100%
50%
Exemption
0%
50%
Against
Income Tax
CGT Reinvestment
EIS
1 year
3* years
SEIS
1 year
0** years
*Qualifying investment must be made one year before or three years after gain on which relief
is sought.
** Qualifying investment has to be made in same tax year.
Businesses dependent on
things like feed-in tariffs
A company cant apply for reliefs for the first time if it has been trading
for more than 7 years or 10 years in the case of knowledge intensive
companies and there is a 12m aggregate EIS limit (20m for knowledge
intensive companies).
STRATEGIC PARTNERING
Provides quality
deal flow
The intention is to address as far as is possible the risk within each portfolio
company and hence within the Fund using the expertise of Innvotec and their
Strategic Partners.
Portfolio Adviser
to SEIS Funds
Angel Investment
Network
Support Services
Accounting &
Bookkeeping
Marketing & PR
Legal Support
SEIS Funds
Angel Network
Portfolio Approach
5
20%
4
25%
1
2
4%
9%
3
42%
Ixty.io
People play games worldwide on their mobile phones and tablets. They
are usually free until you are invited to for example buy a sword to slay a
dragon. Prices for the sword are typically identical worldwide. Ixty
software allows games developers to optimise pricing depending on
affordability in various countries.
Garbanzo
An innovative UK based healthy snack food company. Launched the first low
calorie (88kcal) snack made from Dry Roasted Chickpeas. Developed several
flavours including Sun Dried Tomato, Garlic & Herb, Thai Chili and Bombay
Firecracker. Other product lines are available and being developed. Now
available in major retailers like Holland & and Barretts and Boots etc.
A Case Study
Communication
s
Life Sciences
Security and
Resilience
AS has built a portfolio of substantially risk mitigated growth companies that are based
on disruptive scientific breakthroughs with defendable IP, which address clearly
identified needs in large markets
Company
Building
AS is a team of entrepreneurs that sets the vision for its companies, often defining new
strategies, business models or market applications, or rolling together multiple
opportunities to deliver a proposition worth much more than the sum of the parts
Teams
Global
Perspective
AS has offices in the UK, USA and Singapore, and a team with business experience
around the world, enabling it to pursue global opportunities for both AS and its
portfolio companies
Deal Sourcing
and types of
institutions
Plus active network of 100s of professors, scientists, government agencies, executives, board members, investors, etc.
Highpotential
assets
Risk
mitigation
Robust
pipeline
SAT-COMM
ON THE
MOVE
www.angloscientific.com
CCTV
VIDEO
ANALYTICS
STROKE
TREATMENT
TRANSFORMED
the
companies
ALLERGY
TESTING
REIMAGINED
BETTER
FOOD
PATHOGEN
TESTING
DETECTING
CONCEALED
THREATS
HIGH
SPEED
INTERNET
TO TRAINS
A Case Study
47% p.a
TRENDS
4 trials
4 trials
6 trials
(endorsed)
6 trials
Great team to execute - built this sort of technology all their working lives
10/21/15
10/21/15
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