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been here a while too, research also based after Giles lol, and more so after he said its one of the 3 he expected tp hold in a 10 year portfolio The vat issue is a nuisance, fully recoverable if they choose to of course, but whether they will or not and how much it is is a different matter, the market seems to be looking at the positives from the last results for the moment anyway. Nice to see they intend to contest vat if necessary, powers that be go after small fry trying to grow a business in an honest way but don't touch the fraudsters avoiding tax re hsbc, shame on them
hi compadre, yes indeed, i've been long here for a fair while. i don't tend to look into the bb that often, but very happy holding with a longish view. oddly enough, i first looked into this for the same reason, i started researching most of the main holdings in gile's micro funds. i have come unstuck on one or two of them, of course, but in general they have performed pretty well. i'm keen on cello for its steady nature, and the reasonable divi quite appealing. (& it gives sector balance to my portfolio.) there is a negative issue still outstanding here re VAT liability, size and scope remains unclear, so that is a risk, but i think/hope reasonably reflected in price currently, and no evidence (as yet) that is is symptomatic of any wider management failing.
Spikey again, bumping into you on the boards, you long here? My Marlborough micro cap holdings bought me here. Giles Hargreaves knows a thing or two about the junior market so will be looking into this shortly.
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Thanks for the suggestion Spikey!, very kind of you, lol, hadn't thought of that one!. Ok, I'm back now, phew!. Nothing drastic has happened by the look of it, but there was a parp when I saw there was a RNS today and couldn't read it. I thought it may be more details about the vat issue and half expected the share price to take another hit; thankfully not!. Good luck and regards CM
if you give me your account numbers and all your passwords, i could look after everything for you? have a good break.
I am away for the next 4 trading days. Whenever I go away and unable to trade it seems to be a signal for this and other holdings of mine to head South!. It happened in October and it happened a few weeks ago when the news of the VAT saga broke!. I could see what was happening to the share price but could take no action. So, I will probably set a stop loss on this just in case!. Then again, it may head North!. Good to see this above 90p again. Good luck all. Regards CM
Thanks, CM
Hi OSB. I haven't seen any figures. There may be an update before the next trading update is given or almost certainly within the trading update. I had thought of contacting CLL and asking them but I am not sure they would be able to tell us or they probably would have mentioned it in the last RNS. I find that a little concerning not to have a "worst case scenario" but perhaps they don't know themselves. Article on Radio 4 early this morning about how HMRC seem to be going after the easy targets rather than go after those big businesses and wealthy individuals who know the ropes and have some very cleaver individuals in their pay!. The only surprise there would be as far as I am concerned SpikeyJ if things ever changed!. At least we have seen some much needed positiveness in the share price today, although quite how long it will last I have no idea. It may be a good idea if you are thinking of investing here to wait until this all blows over. Good luck all, regards CM
The VAT issue is the only thing keeping me from buying this share. Is there any indication of how big the hit might be if HMRC is right? Or how much the lawyers' fees might be in dealing with the issue? They are unlikely to be recoverable win or lose.
appears to be putting vat issue back into context of continued wider company progress. let's hope, no more nasty surprises from hmrc.
Millionaire business man has admitted he hasn't paid tax for over 20 years and gets away with it, won't be prosecuted!. Meanwhile CLL gets the tax man onto them for charitable oversights done in good faith!. Unbelievable!. One rule for one and another set of rules for others!. I am tempted to say perhaps they should make a donation to a particular political party and they may get away with it, but I won't because it may get me into trouble!. Stinks to high heaven. Send the b****r to prison. £60 million he is worth!. CM
No further details given regarding possible extent of extra liability. Guess we will be clearer when prelims are out on 16 March (I think). Seems strange that a company can be investigated for not charging VAT to goods supplied to a charity and possibly fined when in todays news we have a former head of HSBC earning £3 million a year advising clients how to avoid paying taxes. Now a Tory Lord and has been an advisor to the treasury (I believe). One rule for one lot and another for others!. Something stinks!. Oh well CLL, you know who to call first next time!. At least the ask is above what I paid back in October, if not by much............and for the time being. Maybe an over reaction today. Good luck all and regards CM
Hopefully not !
unless cello got their professional advice from someone like a quindell lawyer, or, perhaps worse, fund manger called Tom W.... [hollow lol]
Just bought another 5000 shares after 8% drop today. Have taken the view you eother believe the management that the widening of the vat probe only has a remote prospect of the fine goung up or you don't. If no worse then 8% drop is over reaction. In their words they have taken processional advice and don't think there is much prospect of liability increasing.
a while ago I was going to double up, put my money where my mouth is at 83p, this is a drop in the ocean as a long term hold
even more irritating. company sounds a bit peeved too. no valentine's card for HMRC this year.
Just how many of the trades showing as sells today were actually buys.I know for a fact that the 1,000 trade at 08:28 was a buy as it was mine.If they can't show the correct information they might as well show nothing at all.
it looked ok to me overall. the vat thing is frankly a bit irritating, but i see no obvious reason to think that it indicates a failure likely to recur. the business isn't likely to soar or amaze, but seems to have good steady prospects, and given $ strength, i like the apparent +ve re US revenues and prospects. i added a small amount this morning, might add a little in a few days if it stays around here, but want to watchful eye on how qe froth settles first. [and also keeping some cash at hand in case the coming john laing float looks decently priced] not gonna build cello to be a large holding, but a decent little bit of small cap pep + divi in the p/f, and should still carry decent IHT advantage through business property relief.
Thanks for that 3P. Could be the inevitable first reaction to news and share price hopefully will recover from early jitters. I can't double up, I have enough invested here and elsewhere. Good luck CM
probably, but "Any backdated VAT assessment arising would be substantially contractually recoverable from clients should this be appropriate" And Giles Hargreave picked this out as a shafe he would still be holding in 10 years I'm thinking of doubling up
Is the share price falling on the back of the VAT issue raised in the RNS?. Could get 95p to sell first thing, now down to 88p at 08.17. Hmm. Any thoughts anyone?. CM
52 week high today. Good to see CLL break new ground. Shows that patience can be/is rewarded if we wait long enough. Pleased I bought back in at around 84/85p having sold out during the October malaise. I am sure there is a lesson to be learnt there. Glad you are finally in profit Dyna. Nice quiet board here. Good luck all, regards CM
its one of the three he would hold for the next decade ttp://www.telegraph.co.uk/finance/personalfinance/investing/funds/11287939/Giles-Hargreave-three-Aim-shares-to-buy-and-hold-for-the-next-decade.html