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Roy
If you look at Wealth Club, Fundamental Aim Iht fund has almost 10% of their fund is invested in "Investment Banking & Brokerage Sevices", which I think implies I am correct ?
Furthermore Shares magazine of 22 April 2021 quotes Chris Boxall of that Fundamental Aim fund as believing that JIM does qualify for IHT relief.
I simply googled "is Jarvis an IHT free aim stock" & they were 2 of the first 3 results to come up.
Roy
I must confess that I did think JIM was probably IHT free as it has only the UK quote which is one of the determinants.
I accept that some finance companies are not IHT free to holders of 2 years or more but thought that JIM, which offers outsourcing office services as well as a platform (which could be claimed to be tech?) avoided that trap ?
I am no expert on this but I am sure I read somewhere that JIM were iht free, though am perfectly happy to be corrected if wrong.
Nevertheless they surely do rank for entrepreneurs relief which at 10% cgt is a substantial asset saving device.
Barchid, am I wrong in assuming you believe JIM to be a IHT free business , because it isn't. It's not a BPR, Business Property Relief fund. I apologise if I interprate your statement wrong. The only part I could assume is in Property Relief, would be the building the business rents out, according to the financial statements?
eccles
Well actually some do, Arnold Weinstock for one at GEC until it was all blown away by his successor in Marconi.
Warren Buffet never pays out cash either, he reinvests.
As Jarvis is essentially a family concern we have no way of knowing, bear in mind that if they sell up at any point the cash would be subject only to CGT & the entrepreneurs rate is a mere 10%, if however they are more concerned with IHT then as an aim share I believe JIM is IHT free so that could be another reason to keep it in the company.
As I said, I was wondering out loud but it is something that directors are surely going to consider ?
On the dividend cash front I hold the bulk of my Jarvis with AJ Bell who credited me yesterday morning with my divi & a much smaller number in i-web who when I just checked have still not credited me, I guess they are awaiting the share to rise a bit until they do their auto reinvestment ?
Ahem Bar, This tax is probably due to stay for two or three years at least and nobody in their right minds leaves non-working cash lying around do they?
Depends if they need as income.Then, they've no choice
Also, company run pensions aviod tax on divies
Royc
I appreciate if we own JIM in ISA or SIPP we are not affected but that was NOT my point.
We do not set the dividend do we, who does, the family who run this cash generative business of course, so might they feel less inclined to pay more tax than they need & perhaps leave the cash in the business rather than pay extra tax on it ?
Hi barchid, people who take Dividends as a salary, will pay the 1.25 %, when you consider they pay less tax that way, we'll tough. Pension Dividends will avoid the tax, and also divies paid into ISAS.
Just wondering out loud here but as the family who effectively control our company pay themselves through dividend payments I wonder if this NHS raid might have an effect on their policy ?
Hmm, I don't see much of a "decline in investor trading activity" rather I think that if anything it will increase because a lot of people have discovered that with due diligence one can get a much better return from stocks than banks inter alia are prepared to offer at present. My own small portfolio has returned around 5% over the past year, excluding capital gains and no deposit account will offer anywhere near that at present.
I think the issue here is whether JIM can maintain and/or increase its current dividend payments in the face of an anticipated, but as yet unconfirmed, decline in investor trading activity (in common with other brokers) as more people come off furlough and return to work. Obviously, if JIM can add more traders to its platform it may be able to offset the impact of investors trading less frequently. It is however all ifs and buts and, until there's another trading update, people are being cautious. IMO the current market value does not reflect the current expected yield and if JIM is obliged to reduce its quarterly dividends (its stepped them up its dividend payments as earnings have increased and its probable that they will step them down if earnings start to fall; JIM prides itself on tight fiscal control) then I don't think the share price should fall much further (assuming the price is aligned with the adjusted yield). Obviously, JIM has some cash reserves and could still maintain its current dividend for a couple of quarters if any decline in revenues is expected to be reversed in the short term.
eccles
If it drops a bit further I'll have to reverse my top slicing.
Will hold off for the moment though as this is the first break we have seen so it is possible it might shake a few loose holders out, but am also bearing in mind the 3.5p divi is paid in a week & that reinvestment usually gives the MM's a chance to shear a few sheep, especially the platforms that auto reinvest, I think iweb must have rung the bell on my last reinvestment in their scheme !
Hi Bar, As I have said to my bro more than once, this is the point at which you must learn not to panic (he does tend to do that at times). Instead stop and ask yourself two questions: 1. Why did I invest here in the first place? 2. Are the reasons still vaild? We have to remember that a lot of people in the market are incapable of thinking properly or worse still are pure gamblers and cannot think logically at all. May I gave an example: I hold LGEN which regularly pays very acceptable divs yielding presently around 6.5%. At one point last year the SP was around £1.75 which was completely bonkers vs the current £2.70. This utterly lunatic behaviour was caused by a combination of some of the lunatics who do "trading" and some of the less experienced who get into a panic. Of course within a few weeks the price returned to more normal levels and I suspect that a few individuals managed to get themselves a bargain while the lunacy prevailed.
eccles
Well at present they seem to be coming off faster than a scrubbers drawers, question is will they hold £3 level or might I pick some up later below that ?
No point in top slicing if you don't take advantage of buying back in at a reasonable profit....
HL share price 15.02 Jim share price in the pre split 12.68 as of now, is a good comparison. HL are more expensive outfit than Jim, that's why I got out of HL. There only advantage was they deal in foreign shares Where as Jim sticks to its system "if it works, why fix it" as there director Jolyon stated
To my simple mind, the implication of doing such comparitives is that JIM shares are too cheap and another writer's suggestion of £4 may not be far wrong. I can see myself buying a few more at this morning's price.
Eccles/malafuster
Perhaps a better comparitive would be AJ Bell than HL ?
Quite right Mala, they can't really be compared when JIM averages 85% ROI vs only 67% at HL. The implication is that JIM is a vastly more efficent outfit than HL but one would have to do some digging or ask board members why this should be. No matter, what it really means as we all know, is that shareholders of JIM have done consistently better than those of HL for the last few years.
The downward drift is undoubtedly heavily influenced by Mr Market’s negative response to HL’s results. But it’s a case of comparing apples and pears.
I’m not selling.
Just had a small top up expecting to pay 320p - actually paid 314.95p
Barchid, I guess your estimate for a 14p final divi tot, will be right with a 4p 4th quart?
No complaints there, I wondered if it might have gone up to 4p, but very happy anyway
Divi declared 3.5p paid on 9th September
Interesting day. I sold out this morning at 361p and bought a smaller amount back on the dividend declaration. Not bragging in any way, purely luck. Used the cash to top up RM Infra Inc and Next Energy SF.
Hi Jarvis fans. History of there growth pattern and dividend payments, confirms a progressive, successful company, irrespective of ups and downs of the market over the years, and generous dividends. My long term favourite, since 2010