One Media iP gets tax assurances over funding plans for its TCAT subsidiary


One Media IP Group PLC (LON:OMIP) has received assurances from HM Revenues & Customs (HMRC) over its funding plans for its anti-piracy business, TCAT.

The company’s TCAT subsidiary has received advance assurance in relation to the Enterprise Investment Scheme (EIS) from the tax man. The EIS advance assurance clears the way for the company to seek new sources of funding to invest in TCAT.

TCAT’s next phase of development is to become a leading anti-piracy service for the music industry, One Media said. Copyright piracy costs the UK economy GBP9bn a year, according to a 2019 report by the government’s Intellectual Property Office.


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