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Without stating the obvious
Serica is now a extremely good buy. Even if our inept government and the next government inflict further taxes. I really do think the company should return all surplus cash to existing shareholders pronto. Which has been said before by numerous posters on this bb. Otherwise it is looking more and more like a certain few are benefiting by the cash build here. Maybe they have taken a leaf out of HMGs book and followed suit inmho. ???.
Off now to read a poem in my local,and afterwards as a nasty selfish person i am going to to my local leisure centre for the forth time in eighteen months . and hasten to add having kept my membership throughout the so called lockdown. If that is ok with the wokes out there.
To all the wokes I've loved before
Who traveled in and out my door
I'm glad you came along
I dedicate my posts to you
Great Britain were getting there inmho, so dyor.
Hi Sasa,
I fully agree that now would be the time to see some action from the Bod (there’s actually been plenty of times to see some action - non forth coming… ), a share buyback as you mention. My question, which I brought up previously, is this even possible/on the cards with the impending allocation of 111m shares to Mercuria, increasing their holdings percentage further?
Likely in a close period, so cannot buy shares.
To invoke the BoD's authority to buy back up to 10% of the equity at this near distressed level of negative sentiment?
They said at the time when they were given the authority, that they would only do so 'if ever it became necessary' - well, with the shs now yielding some 7.5% on the present divd level, anyone would think Serica today was in deep trouble / ex growth, in stark contrast to their enthusiasm for us with this Tailwind acquisition, so which is it?
'Buy backs' are usually prompted when the Dirs feel their share price is well below 'fair value' and thus represent astute use of any spare cash available.
Ergo, are they all asleep 'at the wheel'? - sasa.
Mitch, if you believe you're doing such a fantastic deal, why aren't you and your fellow directors snapping up shares at this rock bottom price?
Sparrows, almost as bad a Seagulls when the 'chips' are down.
https://www.unitetheunion.org/news-events/news/2023/march/200-sparrows-offshore-contractors-vote-to-strike/
NG up 20%
Sparrows causing problems on a number of Platforms with strike action that may well lead to other parties
Catering Staff, Radio Operators, Safety Vessels, Helicopter Pilots next???
https://twitter.com/surprised_trade/status/1630192723113267201
'...met with the Chancellor re Budget submissions, key ask is industry wants the “wft to be a windfall tax” so a price floor is implemented to stop the levy, should oil and gas prices fall.....government action is now underway on that issue.'
https://www.energyvoice.com/oilandgas/north-sea/485893/windfall-tax-north-sea-oeuk-david-whitehouse/
Any chance that next week's UK budget will relax the windfall tax for NS producers - reduce rates/duration and/or set energy price thresholds above which the tax applies?
Market cap £621m
Cash on hand c. £500m
Debt £Nil
PE ratio 7.3
I keep telling myself this can’t go any lower.
Then it goes lower.
Nice one Mitch.
Valpariso
Google split year tax treatment, should be of help for you to reduce UK tax. Also take a look at
https://www.gov.uk/tax-foreign-income/residence
Terry m
Thanks for your info ,.I know philippines is probably not your choice !,but they do not tax any incoming money source from foreigners ..I only hope we get a change of attitude from our hmg on tax on o & g atb
Valpariso
Not taking any professional tax advice yet, I have a reasonable tax knowledge, I do all my own company accounts which is checked by an accountant and personal tax. I am looking at the tax position on possible countries that I would like to go to and once out of the UK will not pay any UK tax. This will start on the first 6th April after I leave the UK, i.e. any part of the tax year spent in the UK before I leave will see me subject to UK tax. Once not resident for UK tax purposes I can return to the UK for between 30 to 183 days per year with no tax liabilities in the UK. The number of days is determined by your ties to UK like owning property, children etc, the fewer ties the longer allowed.
In your case (must stress this is only my opinion) you are still resident for tax purposes in the UK until 5th April but be careful now long you return for.
Once not resident for tax purposes in the UK there is a HMRC calculator to give you guidance on time you can spend in the UK without liability for UK tax.
https://www.tax.service.gov.uk/guidance/check-your-UK-residence-status/choose-tax-year
But I must stress this is only guidance and will not give a definitive statement, as always DYOR.
Very sad to hear about your partner and good to hear that your MP did at least listen. Fwiw i going to contact my MP and use yourself along with my comments as a good example as to what is occuring.
Logging off now as i have a dental appointment.
As regards to Serica . Hopefully we will get a bounce from these levels
atb
Terry m
Can I ask if u have had professional advice regarding being tax exempt on dividends state pension from U.K. by living abroad abroad …I’ve been permanent in philippines since October so this will be my first tax year out …I will be returning in may for 1 month to see accountant and tie up loose ends …I’m just thinking our snide hmg will still find a way to claim tax …just sharing thoughts ..would appreciate your take
Price is what you pay; value is what you get. buying quality stocks when they're marked down.
https://twitter.com/surprised_trade/status/1634122294887952384
no idea how it's this level so took some more 225p
This will get worse before they get better (if they ever do). They locked us up for 2 years (for no reason - this was known at the time too which is why I did not go along with it) with essentially all politicians in agreement, and everyone went along with it too. Nothing is going to change any time soon. The only thing you can do is try to profit from it and leave the country. Very few places to go though as almost all countries are captured in the same way this country is.
Upomega
Have written to my MP a couple of time now of the last few years, surprisingly did get replies with usually excuses but reading between the lines seems my MP agrees with me. I taken this route as I am informed that the only things MPs take notice off is when a lot of their constituents write about the same issues so get worried about their jobs, would encourage more to do the same.
Also it is sad that my partner is a senior carer was manganging 3 care homes, performing care in the homes when staff did not turn up for work and does respite care at her home. Due to huge pressures during lockdown she left the care home job to work for social services at the council but still does care at home. The country will also lose her, but she is hoping to do some care work in out new country.
TerryM1. Its a very sad state of affairs when this country is losing people such as yourself. I am also seriously considering doing something overseas myself. One of my other thoughts is to take most of my funds out of investments and buy the most expensive property i can. Then do equity release as and when i require funds. Both main home residential and equity release are currently tax free.
Also you really should send your post to your local MP and tabloid press. Someone somewhere will hopefully start to question what is happening.
Totally agree Upomega.
I have mentioned this before but I have had enough and I can see this getting much worse. I retired 7 years early as did many of my friends due to the high taxes, now it is a lot worse with more to come.
The previous budget was the last straw, my partner and myself has decided we will be leaving the UK, it was a hard decision but believe I am left with no choice. Unfortunately it will be in about 2 years due to commitments but have already started on the move, I can only see the UK falling apart not only due to taxes but other socialist policies, overspending, borrowing, ESG, WOKE and government departments either on strike or working from home while doing the washing and ironing.
I have a couple of companies I still keep alive as I would pay too much in tax closing them in the UK and have deferred personal and state pensions. Once out of the UK will close both companies paying nothing in tax, take any capital gain free of tax, no dividend or income tax, transfer personal pension abroad which is now close to the lifetime limit (more tax if I stay) and take both pensions which will be tax free.
The government losses more taxes than it gains with this high tax policy, at least 7 years of taxes on my salary when I was at a peak of income and now I will take everything with me to a more friendly tax regime so it will lose everything including IHT, also I will get better health care, standard of life and nicer weather.
I am hearing that there are a lot of people looking to leave the UK for the same reasons as myself and younger people who can work anywhere in the world off to places like Italy and Portugal due to tax breaks.
Price is what you pay; value is what you get. buying quality stocks when they're marked down.
https://twitter.com/surprised_trade/status/1634122294887952384
no idea how it's this level so took some more 225p
I know TerryMi. I am similar to you. I cannot believe what is happening. I spent many years building up my portfolio from practically nothing . Only to have it stollen by HMG with their unfare and ill thought through taxes. To top it all they are now talking about putting a cap on Isa . Meaning capital gains and income tax would be payable.
The garbage they are now spouting is to encourage early retirees back to work ( iam one of those ). We all know how they will do that. They will implement further taxes (such as isa) to in effect force you back to work.So we now have a concervative government that punishes anyone who has saved and invested over the years.
Upomega
"Don't worry BP and she'll will do alright.The gvnmt will say what a success story BP is."
The government and Labour will never say anything good about BP and Shell, if they make good profits then calls for more WFT, but of course they will be alright as they have the foresight and sense to move most assets out of the UK, only about 5% of assets now in the UK. Can't blame them for looking after themselves and shareholders but the government did make them abandon their assets in Russia effectively gifting £25bn of western shareholders funds to Russia as a punishment. The government punishes me with more and more taxes, perhaps it should try giving me someone else's money as a punishment, may then get my vote.
The irony of it all is that the better BP and Shell do the more call for WFTs, more O&G abandons the NS and BP and Shell import more O&G paying the taxes at a lower rate elsewhere and the UK loses energy security. You could not make this up.
To all the wokes I've loved before
Bring back Ken. Ken for pm.