One Night in Istanbul (ONII)
2010 marked the start of an exciting relationship between Owadally and King (O&K) Accountants in Croydon and Big Ears Entertainment (BEE Ltd). Our Senior Partner Farook Owadally, was approached by his fellow directors in BEE to help raise finance for “One Night In Istanbul” a film based on a successful play, written by Nicky Allt and directed by James Marquand.
One Night in Istanbul, (ONII) includes actors Paul Barber (who recently visited O&K Accountants) best known as Denzel in Only Fools & Horses, Steve Waddington, Lucien Laviscount and Marc Hughes. ONII is based around the unforgettable Champions League Final of 2005 between AC Milan and Liverpool F.C. where a sensational comeback was witnessed by millions across the globe with Liverpool winning after going 3-0 down at half time.
The film however can be seen to be more of a family comedy with two cab drivers, Tommy and Gerry, getting involved in a risky deal which entails them taking their sons on a once in a lifetime trip to Istanbul to watch the final. Unfortunately, a perfect trip where Tommy and Gerry can bond with their sons is all too much to believe as the inevitable happens and the two cab drivers get caught up with two ruthless criminals, a bag of counterfeit cash and Hitler’s stolen cufflinks. Much like a miracle was needed for Liverpool to come back from 3-0 down against a formidable team, another miracle was required as not only was Tommy being held hostage but time was running out.Be sure to watch the movie when it’s released and watch the drama unfold.
The role that O&K accountants played in ONII is firstly as one of the executive producers of the film and also as the film’s production accountants. O&K has helped to raise finance for the film by using HMRC’s Approved Enterprise Investment Scheme (EIS) which helps limit the maximum potential risk for Investors to 42p for every pound of their investment, for a 40% taxpayer; for a 45% taxpayer the risk would reduce to 38.5p for every pound invested. The EIS scheme has proved to be attractive to Investors as regardless of the success of the film they can claim back 30% of their original investment into the scheme in Year 1. These are also other benefits of investing into the EIS scheme. More information can be seen on HMRC’s website.
ONII is hopefully set to be a success and will be released sometime in 2014. The partners of O&K have recently travelled with fellow producers, film cast and crew to Cannes for a launch party at Cannes film festival. A video clip of the party can be seen below.