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& what an expert he turns out to be in that if you pay 50% tax on earnings you loose half to the govt straight away based on income which is why most people I know call it with excess supply of oil and gas "ROYAL DITCH SELL" - end of Sept last yr they were 24GBP a share now falling fast and down to £10 shortly to fall further. You were right the first time let him continue to support his own energy which is lost on me. I'd rather go for capital growth and not income and loss of Capital.
That gobbledy goop statement just illustrates how little the spoilt Godchild knows.. Knows little or nothing about the UK Tax regime.......get another Accountant Supercharger..
Are you a Greenie as the need for energy will always be needed. Did you realise Shell are moving massively into renewables? NO is the answer.
Advocating buying at the bottom in some stocks that have an uncertain future against one that is World Class only comfirms a complete lack of knowledge.....clueless.
Concentrate on the numbers which are very important for intelligent investors.
@fairdealer
I am sure you are delighted to have received this months complimentary tax advice from the MARS board's personal IFA ?
Most people who were attracted to Mars pre-covid probably had 2 reasons to buy, a good yield and a potential take over target.
People who looked for the former could thus be assumed to likely hold it in their ISA or SIPP. Oddly enough our boards IFA appears to have overlooked that rather obvious fact !
Given the speculation this weekend of CGT being increased to taxpayers top income tax rate buying purely for capital gain will not be nearly so attractive as it is at present.
I have traded MARS quite happily for about 6 years in and out, in my SIPP and it was largely due to an unwelcome tax bill due in January that I sold the bulk of mine and took the cash out through drawdown to pay HMRC so that I now have just a token holding. I wasn't clever, I was just lucky, but I'm still following this plc in hope but am happy to sit & wait to see how the uncertainties pan out, and that is a subjective judgement which we will all have different views on. I would be happy to buy them again higher up once the fog has cleared, certainly not on the advice of someone who wasn't aware of the size of their pub estate !
barchid,
Tax Planning is an essential. My Accountant utilises EIS investments to reduce liability. If as rumoured the Chancellor is seeking to raise a minimum of £20billion p/a, CGT is a soft target. The introduction of Tax on individual short term transaction gains would not be difficult to implement. Just a thought, what is certain HM Gov have an enormous financial hole to fill,
I reduced my holding in MARS a short time ago basically on the back of the company's indebtedness and the dependence on Carlsberg. As many I nvested some 4 years ago on income and solid assets. IMO it started to go wrong when the company became Aquistitive especially the Charles Wells deal which created an over-borrowed situation at a time when the speed of Pub closures was accelerating. Marstons were building it's accomodation/motel business, however the development programme hit the buffers in the summer of 2019 when without notice some schemes were pulled even though contracts were in place. Failure of the Pitcher and Piano sale to complete and then what appears a " fire sale" to Admiral, indicated concern within the BOD to reduce debt , possibly due to pressure from Funders! This was all before COVID and the JV agreement ( discussions with Carlsberg had been underway pre Christmas). What occured in March dealt a devastating blow too virtually every trading company in particular those in the hospitality sector where some had the foresight to bolster balance sheets with fund raising, Whitbread for instance and Fullers who have/are in a position to pick up distressed companys.
Marston's SP is sticking at it current level becuase Major Investors have comfort from NAV and the uncertain future which effects many Businesses. Marstons with the brewery business going, needs to diversify, almost re-invent itself , the hospitality sector is in danger of over-supply, it is critical we find niche and innovative outlets. This all cost money and it is difficult to see how Marstons , given the present state of play, will be able to fund without going into the market. Current borrowings must reduce, the JV ties the company's hands in respect of asset disposals. Until obscurity of the future is cleared, many investors will sit on their hands.
Do wonder if we need a more dynamic team at the top as they could be stale and lacking ideas.??
Jim, and others, understand your comments regarding " squabbling" unfortuneately some of these boards have become "bear-pits" since lockdown. That said I am not prepared to sit idly by reading nonsense and abuse from uninformed posters who have an agenda. My agenda is to see Marstons succeed and build shareholder value, long term value not short terms gains for Traders.
The mission is set, destination is what we need to know.
.
Fairdealer
I think our views on Mars are pretty similar, the Wells purchase with the cut price placing to institutions was their "bridge too far" imho.
I was just lucky in my timing to sell Mars in early January & I fully agree re EIS schemes and VCT's too, which for income and capital are permanently tax free.
As I said earlier I'd be happy to pay more for MARS once we have a much clearer idea of direction and debt reduction.