The two first worked together on "Spaced" in 1999, and they have also starred and produced a number of movies together including "Shaun of the Dead", "Hot Fuzz" as well as "Paul", and the pair is set to join forces again to create the upcoming production, according to Deadline.
"Slaughterhouse Rulez" marks the first project helmed by their production company Stolen Picture, but it has been reported the two actors will not be starring in the film backed by Sony Pictures.
"Slaughterhouse Rulez" will be set in a boarding school and will follow pupil Don Wallace on his journey to settle into the institution whilst a group of sixth formers try to enforce strict rules on him and fellow students.
The film will be directed by Crispian Mills.
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