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Hi Tricky, your right Putin doesn't care, he will be taken down sooner or later, but i expect he would just be replaced by another idiot.
Good on you for trekking in the bad lands at that age, its very dangerous these days with an enemy who hasn't really been beaten and one that believes in holy wars, nice place for a sun tan lol
Hawk-i many thanks for that update as the email I got from ii says vote by the 18 August 2022 yet I received it on the 19 August 2022?
The circular for the deal says “If you hold your ordinary shares in uncertificated in CREST, you may vote using CREST proxy voting service in accordance with the procedures set out in the CREST manual. Proxies submitted via CREST must be received by Link Group (CREST ID RA 10) by no later than 10 am BST on 22 August.
As an alternative to completing the hard copy Form of Proxy, you can appoint a proxy electronically online at www.signalshares.com and completing the authentication requirements as set out on the Form of Proxy.
For an electronic proxy appointment to be valid, your appointment must be received by Link Group no later than 10:00 am BST on 22 August 2022.
AGE
I'm with ii and have voted today at 3:30pm over the phone. I was told it's not too late to vote and my vote was taken manually over the phone. if you haven't voted, you still can. Those with ii you can contact them on the following numbers:
Telephone from the UK: 0345 607 6001
Phoning from overseas: +44 113 346 2309
Too late to vote now as 10 am has gone!
AGE
AMC should publish something on their website to state how they are going to structure the payment of the special treatment and how HMRC will treat it, bring either income or a return of capital.
AGE
Thanks for the reply TDT.Unfortunately nothing in voting box even though I’m registered.Sent a secure message perhaps they will let me know if they received it.
I wish they would forget to take my standing order every month;)
MD
gwm121, There is option 3, you deem it yourself to be a return of capital and don't declare it.
MD
I'm sure you are looking in the right place but just in case you aren't go to the drop down menu in the top left hand side of the Interactive Page after logging in. In the "Portfolio" menu you should see your "Voting Mailbox". That's where you should find the page that allows you to vote.
https://www.dropbox.com/s/y5terpuwmrnpx66/Screenshot%202022-08-19%20at%2009.48.49.png?dl=0
If there's nothing there it probably means you haven't registered to receive a vote on the web site. The other option is you can send a secure message telling Interactive which way you want to vote.
TDT
Just looked and nothing from ii
MD
Yes, ii also sent me an email 2 days ago. Go to 'Corporate Actions' to register your vote.
agne geng
You have different views if divi is capital or income
How do we find out for sure,
for tax payer not in isa or pension if its standard divi income you will have a capital loss and pay 40percent tax on the money received back as its income not capital.
For anyone who is with ii they sent out an email this morning saying that the deadline to vote is 10 am today!
So if anyone who has not voted wants to vote then you had better act quick!
AGE
Gent does the document for the AGM have a clause about this in it ?
To do a different class of share issue and then an immediate buyback then you need shareholder approval for it and there is only one resolutions which is to approve the sale?
AGE
normster
The Russians are thought to have lost about 15,000 men killed in Afghanistan in the 10 years they were there. The current consensus, between Russian under reporting and Ukraine inflating figures, is they've lost 15,000 killed in the first 6 months of the current invasion. Putin might not care how many die but he will not be able the hide these losses for ever no matter how oppressive the censorship.
After reading Eric Newby's "A Short Walk in the Hindu Kush", as an adventurous 20 year old fed-up with university, I decided to take a year out, hitch-hike out East and go do the same. On the way home I ended up in Tehran on the day the Shah left. The things you do when you're young!
TDT
AGE, We essentially agree, its simply down to how AMC structure the payment. Why wouldn't it be structured as a return of capital. They will have disposed of their only asset and are returning the capital to shareholders.
Geng to make it clearer when a company pays a dividend out of distributable reserves it is not a return of capital but is a distribution out of realised profits so an income distribution for the company and an income receipt in the shareholders hands.
AGE
Geng when a company pays a dividend then it is income for the shareholder and a distribution out of realised profits for the company.
A company is only allowed to pay a dividend if it has sufficient distributable reserves to do so otherwise it is an illegal distribution.
When AMC sells its subsidiary which owns the Kun Mane development it will make a capital gain on the disposal and so it will have sufficient distributable profits to pay the 1.80p special dividend.
The dividend paid to the shareholders is going to be income and you pay income tax on dividends if not held in an ISA and the dividend is larger than 2,000 and you are a 40% or 45% tax payer.
If it is structured a different way then it is a return of capital and then you do not have an additional amount of tax to pay if you are a 40% or 45% tax payer.
As a dividend is income it does not reduce your tax base cost but if it is a return of capital then it does reduce your tax base cost.
You cannot just call it a special dividend to make it a return of capital you have to structure it in a certain way to make it a return of capital.
AGE
Agneissearner, if the dividend is classed as a return of capital, which it will be (what else could it be) then there is no dividend tax to pay. If its being deemed a return of capital for the company, then why wouldn't it be for the shareholders.
There may be capital gains tax depending on how much you make, if you bought at 0.7 to 0.9p for example. As I said before, if you then sell the remaining holding (at a loss) you can mitigate any capital gains tax.
The deadline to vote is 10am tomorrow!
I was expecting the voting to appear on the Corporate Actions section of my trading account.
I only found out today that because AMC is an international AIM share as it is domiciled in the BVI then it is not covered by the EU directives meaning that brokers do not have to operate a corporate action!
AGE
As I keep on posting go and look at how Fuller Smith & Turner PLC structured their special dividend using a D share scheme as they already had A, B and C shares so they created a new class of shares called D shares they then allotted those shares and immediately bought them back and so for tax purposes the special dividend was treated as a return of capital and hence not taxable.
AGE
Geng you are wrong!
There are interim dividends and final dividends and then there are non recurring dividends called special dividends and all of these are treated as income receipts.
The tax rules re dividends for Companies and individual shareholders are completely different as Companies do not pay corporation tax on dividends but individual shareholders may or may not pay tax dependant upon the size of the dividend that they receive and whether they are a 20% or 40% or 45% tax payer.
Just because the tax advice says there is no tax on the sale of a subsidiary company does not automatically mean there is no tax for the individual shareholders.
Search on Google using Penon Group frequently asked questions and you will see that it says the special dividend is treated as income and subject to income tax subject to the individuals circumstances.
Unless AMC set the payment of the special dividend up in the correct manner then we will be subject to income tax and not a capital return.
AGE
Thanks for the correction Tricky although 10 years is a long time constantly loosing men and costing Money, the Russians are not in any rush to leave the Ukraine, what were you doing in Afghan, i have only been there on Operations?
"Have spoken to one of my brokers and they say as long as they receive the special dividend as a return of capital there will be no tax to pay."
Sorry meant to add, as long as there is no 'Capital' gain above £12k per holder, in any case if there was, you could just sell some shares (which would be at a loss) to mitigate the gain down to the £12k
Not really sure what it would be classed as other than "a return of capital" there are only three categories of special dividend and the only one that fits with this is 'Return of Capital".
Have spoken to one of my brokers and they say as long as they receive the special dividend as a return of capital there will be no tax to pay.
I think it's fairly safe to assume that the personal dividend will be given the same status as the payment to the company so although the advice was for AMC the same will apply for shareholders.
normster
Wrong. The Russians were in Afghanistan for 10 years, from 1979 to 1989. I know that dates only too well because I was in Kabul in 1979.
TDT