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Just seen a bit of news that has really annoyed me.
Russia and China ditching the US $ and creating a new currency leveraged against the value of minerals such as gold and Nickel and other minerals.... of which AMC mine is bustling with.
So as I understand this, the potential for PI's to make a lot of money from AMC shares was very high, even higher than we may have predicted initially.
China and Russia stock piling these minerals for over 2 years now which may serve to raise their value and now, with the war and sanctions imposed against Russia, the dream of a a nice profit has slipped into the abyss.
Sorry everyone invested here, we could have a wonderful return.
GL I'm the future
I took £250k from AMC on the rise up to 44p it was all in ISA's and i paid zero tax.
I believe you do not have o pay any tax on ISA's. To all those that have questions, might be an option to explore this whilst there is time!
Sadly We All Wait With Everything Crossed Until The Deal Is Agreed And Monies Are In The Company's Bank ...... Then I Suspect The Board Will Come Back With The Opinion on The Dividend ....
"Has amc stated clearly this is capital return THANKS FOR LINK BUT THIS ISNT ANSWERED"
No, nothing has been confirmed either way.
f you are a 40 percent taxpayer, and amc bought between 3 and 40p (not in isa or pension) there is a capital loss when ultimately the shares sold, lets say in 3years time
If the dividend is regarded as return of capital it can be taken with no deduction (DUE CAPTAL TOTAL LOSS)and the remaining share value adjusted (to a lesser loss).
If the dividend is taken as dividend, apart from the capital loss there would be 40 percent tax deduction ON THE 1.8P DIV
Its really important to know this is return of capital before it happens
Otherwise you will lose 33 3/4 percent on a loss !!!!!!!!!!!!!!!!!! Is it capital return.???????
If not, you would HAVE to sell the entire holding, and have no chance of ever recoping losses, and amc price may even not reflect the dividend and future prospects.
Anyone got serious knowledge on this please?
Anyone an accountant or has asked their accountant ?
It HAS to be declared on self assessment.
Has amc stated clearly this is capital return THANKS FOR LINK BUT THIS ISNT ANSWERED
yes ISA = no tax, CGT or Income/ Dividend, so definitely a good way to hold your shares
Am I right in assuming that if all my amur shares are in an isa (as mine are) then it will make no difference whether the 1.8p is a div or r.o.c.? My main worry is that we actually receive this long awaited payment in the first place.
If you claim it as a dividend the tax rates are NOT the same as income tax rates i.e.
The rates for 2022/23 will be as follows:
Basic-rate taxpayers pay 8.75%
Higher-rate taxpayers pay 33.75%
Additional-rate taxpayers pay 39.35%
There's also a tax-free Dividend Allowance of £2,000 per tax year and following the mini-disaster-budget the additional rate is being scrapped and the basic and higher rate will fall back by 1.25%
It could be a dividend or a return of capital - 'Amur are looking at how to structure the payment to reduce tax for the majority of shareholders.'
https://youtu.be/SyXP-IPer6c?t=443
If you are a 40 percent taxpayer, and amc bought between 3 and 40p (not in isa or pension) there is a capital loss when ultimately the shares sold, lets say in 3years time
If the dividend is regarded as return of capital it can be taken with no deduction and the remaining share value adjusted (to a lesser loss).
If the dividend is taken as dividend, apart from the capital loss there would be 40 percent tax deduction ON THE 1.8P DIV
Its really important to know this is return of capital before it happens
Otherwise you will lose 40 percent on a loss !!!!!!!!!!!!!!!!!! Is it capital return.???????
If not, you would HAVE to sell the entire holding, and have no chance of ever recoping losses, and amc price may even not reflect the dividend and future prospects.
Anyone got serious knowledge on this please?
Anyone an accountant or has asked their accountant ?
It HAS to be declared on self assessment.
Has amc stated clearly this is capital return
If you are a 40 percent taxpayer, and amc bought between 3 and 40p (not in isa or pension) there is a capital loss when ultimately the shares sold, lets say in 3years time
If the dividend is regarded as return of capital it can be taken with no deduction and the remaining share value adjusted (to a lesser loss).
If the dividend is taken as dividend, apart from the capital loss there would be 40 percent tax deduction on the remaining value,
Its really important to know this is return of capital before it happens
Otherwise you will lose 40 percent on a loss !!!!!!!!!!!!!!!!!! Is it capital return.???????
If not, you would HAVE to sell the entire holding, and have no chance of ever recoping losses, and amc price may even not reflect the dividend and future prospects.
Anyone got serious knowledge on this please?
Anyone an accountant or has asked their accountant ?
It HAS to be declared on self assessment.
Has amc stated clearly this is capital return
Great. Tks to all for very helpful info.
Assuming we do eventually get the cash, it's being paid to AMC as special 'return of capital' payment.
As it's up to you personally to declare dividends, you could just deem it personally as a 'return of capital' and not declare it as a dividend. Then it can be offset against the capital loss the dividend will cause to the SP.
The revenue may see this differently but for most here I would guess the divi will equate to less than £50k so probably won't be questioned.
Even if you do declare it, you can apply the resultant capital loss to your tax account and carry it forward as long as you like. This can then be offset against any future capital gains, even second property sales.
CGT is paid on Capital-Gains ie profits on your trading or say house sale, over the exempt amount. Dividends are taxed as income tax. Which is completely separate. EG income: wages, pension & dividends are in the same tax category. Is this being reduced to 19% ?
Thanks TDT
Does one have to pay CGT on a dividend paid by one stock in your portfolio if the portfolio as a whole is in the red come the end of the financial year? That’s the situation I’m looking at as most of my stocks have bombed this year for obvious reasons. If I don’t have to pay CGT on the 1.8p dividend then I’ll miraculously end up with a small profit from AMC. Grateful for any info/opinions. . Tks
Potato, you should have followed the boards example in buying or not buying shares
DB....This has undoubtedly been a shorters dream.
Rarely did we see a rise, but it always crashed, like clockwork. Pity I don't know how to short. Just waiting to see if we do get paid here. 14 years wasted.
Not for all. How much has been invested over 16 years, one billion ? It’s a pointless exercise taking stocks up for everyone to compete taking profits. Far easier to Short & extract the value already contained therein. How best to achieve this bumbling DIY or via offshore managed by the Pros. Exotic bespoke derivatives & repo desks exist for a reason. Well worth the fee’s. All aspects commonly discussed on these bb’s, not. Re economies, inflation is needed to reduce covid debt. Interest rates forecast to peek on both sides of the Atlantic at around 4% next year. Good for savings accounts, if you have any money left.
Google it.
Cheese eating surrender monkey??
Cheese eating surrender monkey.
TDT
Looks as if Mr Market expects this deal to go t.ts up then..?
RY surely will not disappoint though? Will he? Could he? Oh bugger, yes he most likely will disappoint of course given his utterly carp track record for delivering share holders value. Situation in Russia looks absolutely grim for everyone though and I realise all markets are down. The West odd determined to shoot its own economies in the foot by sustaining this proxy war and no one feels their money is safe in anything even remotely connected to Russia now, let alone some remote area of land that supposedly has something of value hidden deep within it!