How it all started.
5 years before production.

Jane Corden first met with Phil Wade, Producer, five years prior to production to help with the initial budgeting in Movie Magic and the application for a provisional producer offset certificate. 

Apart from periodic updates, all was quiet until the Director, Cast and Financing was confirmed. A small cast availability window meant a fast turnaround to implement Moneypenny’s services.Moneypenny liaised with accountants in Scotland, to set up specialised software to manage both co-production company finances, tag all the qualifying spend for UK tax credit and Australian QAPE and to allow the production accountant to work flexibly and remotely per her agreement with the Scottish production company.

Every new film production brings about completely unique challenges.

Every new film production brings about completely unique challenges. Figaro had significant private funds raised in Australia which were needed for the UK production. The exchange went against us until we were able to lock in exchange contracts. 

Moneypenny provided the Australian accountant who navigated the financial closing process with the lawyers, producers and bond company preparing the multi-currency cashflows and drawdown schedule and negotiating with the bond company and offset lender to provide sufficient confidence that there was no exposure. 

This was time consuming and required a financial controller role independent of the production accountant who was fully consumed  with the production and ensuring the producers were well informed with accurate forward costings for good decision making.

Our Teams across Australia & UK worked seamlessly to manage partners from both Melbourne & Scotland.

Moneypenny UK provided payroll services and technical support in the UK.  The accounts were fully integrated to ensure accurate qualifying spend tracking for all tax credits to ensure fast turnaround and optimal results in line with finance plan. 

Moneypenny Sydney took over the post accounting once the shoot in Scotland wrapped, finalising the cost report, liaising with the auditors for production and tax credit/offset audits and submitting the producer offset final application. 

Moneypenny was part of the producers journey from inception to final delivery, with advice drawn from wide experience, tried and tested systems and processes to guarantee outcomes and limit the frenzy.