Rober01
07 Apr 2015
Re: A little bit of insight Rober01 churjonesWhat you say is very true!!I have just had a very surreal moment myself in relation to taxation. When completing my SA I came to the end of the form only to find my expected tax rebate to be several hundred pounds less than I expected. On closer inspection HMRC were informing me that this was for tax paid on dividends!!This was news to me as I know the amount of "actual tax" I have paid in the year to the penny. I have my own tax model and on comparison all of the HMRC calculations were the same (give or take the odd pound for rounding) apart from the HMRC sum. I studied taxation as part of my first professional qualification. I remembered (just, in my dotage)that the most difficult aspect was the fact that there was no logic to taxation, just a set of sometimes weird rules. In fact after several hours of thought, I realised that had I not bought my VCT relief I would indeed have had to pay the sum indicated. I had ignored or forgotten the fact that if you enter the realms of the higher rate taxpayer due to dividends (which this year I have for the first time) then rather than receiving a 10% tax credit, you immediately hit a rate of 32.5% on the whole of the balance over the standard rate of taxation.Strangely as previously mentioned I have already sold Investments for repurchase in my ISA in the next week or so, in order to ensure I do not become a dividend higher rate tax payer in 2015/16.Every year I complete my SA something interesting turns up, but this is the first time I have lost part of my rebate. But Hey! I am sure the next government will make good use of my reluctant income tax contribution, NOT!!! Incidentally, if you do not know the figures requiring you to complete a capital gains return for the 14/15 tax year, are gains greater than £11K and/or a total disposal value of £44K.I hope your calculations do not lead you to any tax revelations as above.Cheers
churjones
06 Apr 2015
Re: A little bit of insight Rober01 I have started looking at 2 aspects of shares more thoroughly of late and because of your written words, VCT's and Trusts, it just shows when you open a dialogue you open your mind to new ideas, something that is far to often ignored or forgotten in today's society, especially by politicians as Gordon Browne found to his cost by sic: that bigoted woman in Rochdale, turn your mic off moment ha ha. Long may we carry on the discussions, without the arrogance ( not that iv'e noticed) save that for the upstarts and pundits. regards
Rober01
06 Apr 2015
Re: A little bit of insight Rober01 churjonesI always value your thoughts on investing, primarily because they are often so different to my own. If they were the same there would be little point in the dialogue.Part of my defence against the stock market tipsters/experts is arrogance, but I learnt to my cost and I mean "real" cost that to not take note of honest comment genuinely meant can be very, very expensive.After your thoughts on fixed interest I have revisited and adjusted my future planned actions to meet the result.Regards
churjones
04 Apr 2015
Re: A little bit of insight Rober01 Rober 01 Let me say i find you full of humour at times, who can be serious in this life all the time, only politicians, judiciary and civil servants, only because they are duplicitous, self serving wannabes on a gravy train to Brussels.When it comes to shares and some of those that appear high risk, i do quite a bit of reading on the companies i buy into. To say i do not listen to the media and individuals ( yourself included ) would be far from the truth, never shut the door on information, it's how you disseminate the dross from good information and invariably work out who/what to rely on that matters. We do have one thing in common with shares, ... trying to get it right for the best outcome, and when it comes down to it in the end, the only thing we all need to know is. that shrouds are no pockets, for share certificates, money, or tax forms, HMRC leave them for the rest of the family by the side of the box ha ha regards
Rober01
04 Apr 2015
Re: A little bit of insight Rober01 churjonesCIFU,GLIF and FAIR are three very different models, one US dollar CDO based, one P2P/Crowd Funding orientated and the other one UK senior debt orientated. They are clearly income generation based, but as to where the capital cut off point is,is not defined by their nature I think. Both CIFU and GLIF survived the recession despite there ups and downs and in GLIFs' case it has radically changed its offering in recent times. As to FAIR, it is early days yet.Regards
Rober01
04 Apr 2015
Re: A little bit of insight Rober01 churjones"i say better to be your own fool than someone else's".Could not agree more!!You are clearly your own man and that is why it is always good to talk to you. The fact that we seek and achieve different results is all to the good.For me one of the strange things is that I have something like 70% of my portfolio in investment trusts and yet very few of them appear in the "popular" IT lists. This either means that I mostly get it wrong or my thinking is very different to the average. I like to think it is the latter (I am happy with the results, either way).I have spent 17 years developing my portfolio and that has certainly not come about by following ICs' or indeed any other commercial tips.We clearly have very different ideas about risk and like morality, I think it is a very individual and personal thing. I think our discussions are all the better for that,in respect of risk that is, not morality.Regards
churjones
03 Apr 2015
Re: A little bit of insight Rober01 Why don't you like CTR strange how sometimes we see a different picture, and investors chronicle was one of the main reasons, i choose my own shares, and that's going back to 1987, when i look back, i say better to be your own fool than someone else's and that's how i view IC. CTR to me has a good financial record with all of my prerequisites for a buy, but have held them for several years, was just about to sell them prior to the rights issue, as they also meet my selling criteria, instead i took the rights as well. Do not play Russian roulette need an elephant gun to make it a fair game with the opposition, i'm to thick skinned. regards
churjones
03 Apr 2015
Re: A little bit of insight Rober01 rober01 Thanks for the information, the one thing i see in this type of share is very little capital appreciation over any time frame once it reaches an optimum value, CIF has been good for you, but you bought when markets were on a fall, i also like you bought GLIF on a fall, so made a capital advancement to add to good returns prior to selling, do you expect these to be a stable price product, designed more for the higher income side rather than a capital gain, with so many shares in issue any fall in an unsure market could cause these to fall in value dramatically, as did GLIF when it went down to the 2p level. i must say i have no problem with the concept of the product otherwise i would not have bought previously, only asking the question. regards
Rober01
03 Apr 2015
Re: A little bit of insight Rober01 churjonesFor your information:-"The last few years have seen an explosion in the number and size of investment companies investing in various forms of debt.This part of the market is still growing quickly, as shown by the £250 million of additional cash raked in for P2P Global Investments (P2P + ) in January and the recent $42 milllion (£27 million) fund raising for Fair Oaks Income (FAIR + ) fund.P2P invests predominantly in various forms of debt originated by the rapidly expanding alternative finance market. Several similar funds are doing the rounds at the moment and this sub-sector could easily mushroom in size.Fair Oaks invests in pools of loans known as collateralised loan obligations (CLOs). It competes with the likes of Carador (CIF + ) and Blackstone GSO (BGLF + ) but did not raise enough money when it launched and so got caught in that daft Catch 22 situation where investors say ‘I would invest in it if it was bigger’ and the manager says ‘it would be bigger if you would invest in it’, which seems to apply to lots of funds.With this extra cash, Fair Oaks has broken through the magic £100 million market capitalisation barrier and will hopefully be able to expand further."This coupled with the addition of GLIF gives me a good diversification in what I consider to be a growing area of the market.Regards
Rober01
03 Apr 2015
Re: A little bit of insight Rober01 churjonesI am doing my preliminary preparations for self assessment with a target return date of 9th April. The return of several thousand pounds of overpaid tax ( I do not mind the government having the use of my funds for a few months) is the motivation.I came across Charles Taylor in the Investors Chronical yesterday. Judging by the comments there and other remarks you have made to me, you sure like high level risks!!I take my hat off to you, I could not live with that level myself.?Do you play Russian roulette by any chance.Cheers
churjones
02 Apr 2015
Re: A little bit of insight Rober01 Previously i have only used the small assessment forms this time that appears to have finished, any way i'll wait and see what comes after the 6th April, it all fills time in lifes rich tapestry of shares buying regards
Rober01
02 Apr 2015
Re: A little bit of insight Rober01 churjonesThe problem now is that there is a fine for merely not completing self assessment even though you owe no tax, where the HMRC determines you should!! Before you could not be fined for merely neglecting the form.As I said there is one main form and separate additional parts for capital gains/foreign dividends/etc/etc. Each of these has its own set of notes as well. Worse it is your responsibility (?on the pain of death)to request each additional part based on what you find when answering the questions on the main part.The main problem for me is remembering all the different elements I need to complete each year. You may find it much simpler than me, I hope so.Regards
churjones
01 Apr 2015
Re: A little bit of insight Rober01 I like you have never had a problem with the tax system, i pay all that is required, this year as usual phoned and asked for the short form, sorry this has all changed we will put you on the list came the reply and send you the information after April 6th. I had a look at FAIR surprised how many shares have been issued and more to come if my reading is correct,not exactly my buying criteria, but if they fit with you, all avenues will be covered i suspect. GLIF is up slightly from where i sold out, but as you related they are going into uncharted territory with p2p and have changed their share designation on guernsey. regards
Rober01
01 Apr 2015
Re: A little bit of insight Rober01 churjonesWow!!!Pay CGT , I thought you knew me better than that, I do not pay income tax, let alone CGT. I wish it was as simple as that.A CGT Return is required not only on exceeding the allowance but also if you exceed the the value level of disposals set each year. I will not find this out until a level is published for the 2014/15 Tax year next week. I do expect to have to complete, based on the level set last year.I am sure you will enjoy the "pleasure" of completing the self assessment process with its many subsections and supplements. It can keep you out of mischief for hours and hours......Cheers
churjones
31 Mar 2015
Re: A little bit of insight Rober01 Rober01 I am not in your league for capital gains never paid it, Mazda man me remember, came very close, me and her indoors last year, and this year have been put on the self assessment bandwagon because of the foreign shares i hold (pain in the b**) but it will give me something to fill, other than the coal scuttle at night. No my charges are standard with Redmayne who as i previously related would not change for a few £ saving, although i believe all investment charges should be off-settable against income tax in the year they are taken, when investors put money in to company shares, you need to offer incentives as per vct's as a inducement for doing it . regards
