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LANCASTER tomorrow
ETA: Oct 12, 05:00 (in 23 hours)
Allow Approx 10 days for the maintenace should give next offload this Thursday 12 October.
Https://montroseport.co.uk/live-webcam/ NJORD VIKING finished work on Hose Changeout @ Aoka Mizu Returning to Montrose in early hrs should be visible tomorrow in dock hull colour bright yellow. Supply vessel out at AM this evg should have an update over week -end re next offload
So as expected some very mixed responses from the brokers, who should all have received the funds at the same time on 29th Sept?
First off the mark seems to be ii (into ISAs/SIPPs on 29th, into Trading accounts on 2/10) and i-dealing on 29th as well. A few others now caught up late including HL and iWeb/Halifax/Lloyds. Poster ifaze on ADV saying Barclays now paid it into ISA yesterday. And it looks like IG are maybe using an old Maya calendar and don’t actually know which day it is!
Also some variance between brokers as to whether the payment is credited to ISAs or into regular trading/dealing accounts (wherever the DCUs are held) - all seems a bit random but not surprising. I discussed on 29 Sept that payment into ISAs may well be correct if the shares were originally held there:
https://www.lse.co.uk/ShareChat.html?ShareTicker=HUR&share=HUR.L&thread=FA0EB710-6294-41E0-8B86-141C8F367278
As ronwoking indicates below you don’t have to accept your broker’s interpretation when it comes to your tax affairs if you disagree with their approach. It’s a private matter between you and HMRC and you can present it differently to them if you have good reason to believe that, although they might not accept your view and may come round to nab yer telly of you don’t cough up ;0)
No advice intended, just for consideration if you wish.
"fwiw hl transferred my dcu's to a trading account but have put this first dcu payout into the isa as with everyone else. i assume this is a **** up and they will either transfer funds to trading account or tell us to"
Interesting that another platform has done the same as ii, as the more platforms that do this makes it less likely that its a **** up, hopefully.
Payment received 👍
thanks corryv. i'll have a butcher's.
fwiw hl transferred my dcu's to a trading account but have put this first dcu payout into the isa as with everyone else. i assume this is a **** up and they will either transfer funds to trading account or tell us to. i am assuming capital gains tax will be payable on all these payments going forward.
If I originally held my Hurricane shares in an ISA and I now hold DCUs in a trading account, how do I work out how much capital gain (or loss?) I’ve made from DCU payments? Finding this very confusing.
The dcu payment has arrived at my Lloyds trading account described as a corporate action not a dividend.
II paid it into my Isa account.
Nothing from Barclays yet.
I shall regard all the payments as originating from my ISA holdings of HUR and duke it out with the revenue if they query it.
The Iweb platform is supported by HSD (Halifax Share Dealing), as is Lloyds. The DCU payment has appeared in my share dealing account today.
Thank you Corryvreckan1
Mellow45 - it's capital, see discussion near the top of this thread:
https://www.lse.co.uk/ShareChat.html?ShareTicker=HUR&share=HUR.L&view=thread
petethestreet - have you been through the FAQ section on the Prax website, I've found many of my queries summarised in there:
https://www.prax.com/dcu/
SEE PAGE 81 of SCHEME document says not a dividend
https://www.prax.com/disclaimer/
Does anyone know if we treat these DCU payment as capital gain or dividend?
Cheers F.
I've been trawling RNS's to try and find the finest detail possible in the DCU payments. All I find so far is a max of 6.48p and payment s made biannual. If you have a link or RNS date which adds more detail to this could you post it. The best RNS I have is 16th march 2023. Thanks in advance and hope..
TBH I am loving not following the HUR saga any more!
IWeb DCU payment received today
Should be deposited end of business day in iweb tomorow
Anyone else on here have their PRAX DCU with iWeb?
I got my initial payment through in June but this latest one hasn't yet arrived?
Just wanted to see if anyone else has got theirs.
" We are not going to get fat on that"
FWIW we never were. Next year and 2025 should be a bit more substantial.
As there are no guarantees that we were going to get anything past last June, I just take a bit of solace in that we got 'something' and are a bit more hopeful to see some more.
So it looks like the September payment is 0.00309p. We are not going to get fat on that
"On the same basis I think we could also get a March 2027 payment, based on the revenues from the second half of 2026. From the Prax website:
“The DCUs confer an entitlement for DCU Holders to receive 17.5% of all Net Revenues earned by Prax Upstream from 1 March 2023 until 31 December 2026,”
Unless, of course, we have already received the maximum 6.48p before then."
Cheers for posting that. I mused exactly the same ie a Mar 27 payout due to the 90 day in arrears payment, a while back but nobody replied or concurred at the time. Always nice to know somebody else has the same thoughts
Thanks for that i have amended the adfn post just thinking it may be quite a tight window to get 3 offloads in till 31/12 as you say
Its in arrears so as you say could run into March 27 . The Njord Viking vessel is being used out at AM today changing hose
Laserdisc – RE your 1/10 post on ADV. My reading of the scheme is that revenues apply on a half year calendar basis, so 1 July to 31 Dec revenues are used to calculate the DCU payment due at end March, and then 1 Jan to 30 June apply to payment at end Sept. That ties in with the cut-off dates for holding the DCU for entitlement to the next payment (30/6 and 31/12). So we could get 3 offloads for the next payment in March if they fit the December one in, but not 4, if I've got that right?
On the same basis I think we could also get a March 2027 payment, based on the revenues from the second half of 2026. From the Prax website:
“The DCUs confer an entitlement for DCU Holders to receive 17.5% of all Net Revenues earned by Prax Upstream from 1 March 2023 until 31 December 2026,”
Unless, of course, we have already received the maximum 6.48p before then.
How much was the payment with regard to the overall 6p.
Fund and share account. More or less an isa without the tax free benefits. Trade just the same as isa share account.