There is a long queue to get on to the angels list of household producers such as Sir Cameron Mackintosh and Michael Codron. Basically you have to wait until an existing angel has died,' he says. Unlike American investors, British angels are not offered tax incentives to invest in the theatre. Investors must be individuals and hold their shares for at least five years. He or she will also be entitled to enjoy proceeds from the shares tax free of capital gains tax and offset any losses against gains on other chargeable assets.
Most angels invest in theatre for philanthropic rather than financial reasons.
They enjoy being involved in a creative venture and attending first-night performances and parties. But they do not expect to be drawing their pension from it.