Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Hi, does anyone know how to calculate a UK CGT loss for shares in NAPS (assuming the way things ended up, we can claim a loss anyway) - apologies if I have missed an earlier post on this ... thanks
If it helps Dilbert the amount of consideration I have used in my capital gains computation for 2022/23 has been £9.91 per new share (translated at variable rates from $11.50). This is based on;
- Tranche 1 $6.065853 per new share (received Oct 22 as £5.60 per share (Rate $1.08/£1)
- Tranche 2 $0.918935 per new share (received Jun 23 as 71p per share (Rate $1.29/£1)
- Tranche 3 $0.046594 per new share (received Jan 24 as 3.5p per share (Rate $1.31/£1)
- Tranche 4 $4.47 per new share in tokens (valued as £3.55 per share (Rate $1.26/£1).
The tranche 4 is pretty much a dartboard job given the lack of information from the Bank and has been determined based on feedback in this chatroom of 129 tokens per share with a conjected value of $0.0348 per token. Under the HMRC tax guidance (CG14881) the amount appears to be ascertainable and therefore probably subject to immediate tax. This is my own take and of course you should take appropriate tax advice from someone better qualified than me.
Seem to have received a tranche 5 this morning based on a corporate message from Halifax. $0.055913 per new share which has translated around £1 = $1.28 to 4.36p per share. Notice also refers to the tokens but claims to still know nothing.
Good morning Glenn
So you received tokens or the money instead of tokens? Interactive investor say they still know nothing!!!!
Jambor I have received neither cash nor tokens for tranche 4. And received little by way of intelligence on their likely emergence. We are well into quarter 2 when allegedly trading was due to start on the tokens. It would be interesting to hear if others on this chat have had some feedback from Napster.
Out of interest, has anyone put these shares to loss? my accountant said i couldn't due to some technicality with the Name change to NAPS. be interested to hear others opinions as i had quite a good amount in here and was hoping for some tax relief?
The name was changed from Naps PLC to Naps Inc. This is how they show on your ii account.
You can't take a loss on the shares until/unless you sell which right now is virtually impossible to do.
Where they are going with this goodness knows. So-called partnerships with Mint Songs and Terra Zero have disappeared into the ether. IMO our best bet lies with the core business, streaming music and either a buy out by someone or a NASDAQ listing , which was their possible intention at de-listing.