It seems so:
'News of another British classic (also appearing on the Observer's Top 25 list): Shane Meadows is making the sequel to This Is England - as a four-part television series. The show will move the action on four years from the end of the film and bring back many of the main characters, including Thomas Turgoose as wannabe skinhead Shaun. Entitled We Were Faces, the series will be set in 1986 and finds Shaun preparing to leave school and enter the grown-up world.
It will be co-written by Meadows with Jack Thorne, who penned The Scouting Book For Boys, which has just been filmed with Turgoose in a major role. Meadows revealed his plans for the project while promoting his latest low-budget film, Le Donk & Scor-zay-zee, a mockumentary starring Paddy Considine. This Is England of course, suffered from an 18 certification, due to some racist swearing and violence. The certification angered Meadows as he believed it prevented many young people, for whom the film might have contained useful lessons, from seeing it. The TV sequel will thus open the characters and themes up to an even wider audience.'
SOURCE: http://www.guardian.co.uk/film/2009/aug/30/trailer-trash-simon-pegg by Jason Solomons
'This is England' Sequel Straight to Small Screens
This is England came out and stood out as a well-observed portrait of growing up of '80s-era England, so it seems fitting that any follow-up would also take place four years after the fact. According to Screen Daily, that's just the idea, as Meadows prepares to do a four-part series called "We Were Faces" for the UK's Channel Four which will chronicle the characters as their lives have progressed by 1986.
I haven't had the chance yet to see this summer's Somers Town, the latest from Meadows and young star Thomas Turgoose, but the latter has certainly made an impression for himself between England and Eden Lake. Between that one and Somers Town, he took home the London Film Critics' Young British Performer of the Year award, so he must be doing something right, and there's a unique pleasure in seeing a young talent grow up and grow out in their work.[SOURCE: http://www.cinematical.com/2009/08/27/this-is-england-sequel-straight-to-small-screens/]
Interview with Thomas Turgoose from 13.3.10: http://www.guardian.co.uk/film/2010/mar/13/thomas-turgoose-scouting-book