Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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The shares in POG were ejected from the ISA account in HL to a fund and share so why cant we use them to offset gains?
It’s no longer in a wrapper….
Regular trading account would be fine, losses in that can be used to offset gains.
You can't use capital losses in an ISA.aginast Capital Gains elsewhere. The HMRC aren't going to allow sheltering of Gains in the wrapper but usage of losses they aren't that generous!
Thanks Jezza!
On the legal challenge?
Can claim share shave nil value and use the losses against CG gains in year of claim or if no gains the losses can be carried forward
https://www.gov.uk/government/publications/negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-hs286-self-assessment-he/hs286-negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-2023
The obvious tactic is if you have a negligible value share and make significant CG gain in one year then make the claim that year
Otherwise wait for HMRC to add the shares to their recognised list of nil value shares
https://www.gov.uk/guidance/negligible-value-agreements
Remember you must make a claim for losses on your SA return - if not made within 4 years they are lost - that will be 4 years from appearing on the HMRC list (I believe)
There is no refund for tax losses - losses in ISA have no tax benefit - no gain/no loss
I don’t think you can claim a refund on the cost of the shares.
However you can use the loss to offset any capital gains you made selling other shares I believe. Not sure about ISA or SIPP, but if you have a trading account and take profits, you can offset what you would have paid against the POG loss.
At least that’s what it used to be, I used to work for Lehman and had part of my salary in shares, basically it meant no capital gains tax one year.
Agree , any views on this would be interesting
Hello guys,
I know we all are going through the same phase after losing money in petropavlovsk. I think they have left us no choice apart from being optimistic. As a UK tax payer, I was just looking for the ways if we can claim some amount of tax return after losing money because company went into administration.
I came to know, which I think there is a way for us claim some tax amount back from HMRC but I am not sure about it hence I am posting it here to know if any of you guys are aware about it or not.
There is a form called capital gain summary 2023 (link no 1), in which there is a section for those who invested in a company, which became negligible in value (link no 2). So far what I gathered is we are eligible to claim for refund, but I might be wrong.
I was just wondering if any of you have applied for it or have encountered this so far, is it worth applying? Let me know what do you guys think about it.
References
1) CGS 2023 form - https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1148477/SA108_2023.pdf
2) Negligible value claims-
https://www.gov.uk/government/publications/negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-hs286-self-assessment-he/hs286-negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-2023
What will happen with the $25m stuck in the Luxembourg account when OFSI release it?
Will the class action lawsuit be happening?
Looking forward to a successful outcome and receiving a nice % of my investment back.
I can see this at 70p next few weeks.. i might sell
Hi Lawrence,
I tired of the ignorant comments and abuse on this board, and stopped posting.
For the record I was not referring to you, Rusty or Freddie.
I sold about half of my shares between March and October 2021 at varying prices from 21p to 27p, taking a good profit, so did not suffer a massive hit when it all collapsed.
Good luck trying to recover any money you have lost here, although I fear that you are knocking your head against a brick wall. Write it off and move on, don't throw good money after bad on risky legal proceedings.
Kenj where have you been
Yup, risk vs. reward.
All depends on one's risk appetite.
I am still in EUA and averaging down where my finances allow!! I strongly believe EUA will come good eventually and so would POG if shareholders had not been robbed.
You seriously want to buy shares in another Russian company, after what happened here?
how to find out what the new POG turns out to be and when it is resurrected as a new company? Too much resource value for this not be rebranded as a new company.
And yes, I admit I got shafted too !!
channel this anger Lawrence. The birtish public need to rise up and overthrow this excuse of an government and political system. Our democracy is a fraud - both the Tories and Labour are puppets for the non-elected globalist bodies such as the WEF, UN, WHO and Nato. Starmer himself said he's choose siding with the WEF over our parliament....says it all.
They all evil and complicit in the biggest crimes against humanity ever committed. The covid virus was a scam and the "vaccines" a bioweapon to de-populate. LAw suits popping up everywhere...Pfizer said in court the other day that they are not guilt of fraud as they on;ly delivered the fraud the US govt ordered....So basically the bioweapn is from the DoD, Us govt. Millions are anticipated to have died because of the clot shots.
Westminster will burn or there will be civil war in this country very soon
"we were warned".... read: we could have applied for UK gov waivers, which would have released the choke hold that sanctions had placed upon the company thus allowing it to breathe and weather the storm; but as we knew the BoD could have done so and didn't want us to even try and we were happy to take an easy rubber stamping pay day, so stuff the company and its share holders -easy pickings for us.
Opus thought if the UK government and UK high court couldn't be bothered trying to save a UK company and UK share holders then why should we feel any guilt in taking a huge pay day. The fact it was at the cost to UK share holders and ensured that the Russians creditors were not left out of pocket even though that's what the sanctions were planned to do, is either here nor there. We can't help but laugh though at the irony that UK tax pounds are being sent , without consent, to the Ukraine to line pockets and on weapons to defeat an enemy that we and the UK high Court ensured got their debt back.
So what a wheeze the UK share get stuffed helping Russia and the UK tax payers get stuffed trying to destroy Russia and we Opus just did what we were instructed to do and as a British company we were allowed to break sanctions and deal with Russia didn't need any waivers whatsoever and the UK government and High Court never even mentioned it!
So in the end Russia get a 2b Kroll valued gold mine and processing plant, Ukraine get their aid and the UK citizen gets shafted both ways.
So UK share Holders you will not get one bean from this daylight robbery set up.
With Kind Regards
Nicked & Boyz in Da Hood
Cannot see any mention of shareholder money, we were warned, was well worth a punt though. Looks like everyone's getting a slice apart from the small PI's, live and learn, GL all
Dear Shareholder,
The Joint Administrators have now published their Progress Report covering the period from their appointment on 18 July 2022 up to 17 January 2023, in accordance with their statutory obligations.
The full report can be accessed on the Company’s website at this link: https://petropavlovskplc.com/administration-news/
With kind regards,
Nick Hood
For and on behalf of the Administrators of Petropavlovsk PLC (In Administration)
image001.png
E: nick.hood@opusllp.com
W: https://opusllp.com/
LI: https://www.linkedin.com/in/nickhood1/
Graham stuart who even though I was polite and passive still blocked me Must have touched a guilty nerve
Graham Stuart MP
@grahamstuart
You’re blocked
You can’t follow or see @grahamstuart’s Tweets.
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PrincePotemkin: Did you buy into POG post invasion?
any chance of coming back for the POG
Lawrence - we're trading semantics here. I don't think 'Russia' was sanctioned, but Boris took pot-shots at every pie he thought Putin had his grubby paws in. And your desire for POG to just say 'eff em' and carry on as whatever counted for 'normal' is just, well, unrealistic. Look - I got hurt but it was a massive punt on my part and I have no-one to blame but myself; I've also got exposure in POL(ymetal) and I could also come unstuck there. If I do, then I can only blame myself again. I SPECULATED on POG and POL. My choice. My mistake.