Member Info for Bunky1981

https://simplywall.st/stocks/gb/materials/aim-ggp/greatland-gold-shares/news/is-greatland-gold-longgp-a-risky-investment

I thought you were going to say that a DJ saved your life ;)

I took a lump out of Coinbase. Despite doing okay from it... I have zero confidence in crypto's volatility and liquidity. Whether it will go into GGP or not remains to be seen. Maybe if it hits something silly like 10p.

that spread just magically vanished! 1.5%.

@Speedy - do bear in mind that cpi/rpi or whatever made up nonsense they're using is only relevant to everyday spending (in theory). If somebody is sitting on £500k cash to buy a property and the propery market is flat (or potentially negative quite shortly), then that capital is not suffering erosion. Vast amounts of private wealth currently in cash will not be earmarked for typical cpi (or similarly linked) expenditure.

Admittedly that's not much more than a perception exercise, but neverthless, it's true.

@thlearner - the price may have dropped under 13, but the Ask hasn't. It's had a daft spread of nearly 6% this week. I know because I've got orders in at 12.95. I'll let you know when mine are filled :p

@GoGreen - you may have absolutely nailed it after all! Time will tell :)

@GoGreen - ha, you caved in! Probably the right move ;-)

Nope, I'm standing firm on 12.95. I get more stubborn by the day too with this ridiculous 6% spread.

It's probably the most petulent and needless position of my investing career... and I'm weirdly enjoying it.

that spread though...

@GoGreen - Well that's a pain. Now you and I are fighting over the same 12.95p shares ;-)

May the best man, woman, person, inanimate object, win.

GoGreen - You got 12.95? Gosh, mine hasn't gone through. You were incredibly lucky. Which platform were you using?

Ha. I know I know. I'd love to say it was more tactical than good old fashioned stubbornness. But tbh it wouldn't bring my average down that much either way. So it's just on principal that I want to get one lump with a '12' at the beginning of the price. Then I can (hopefully) consol myself in 2024 that I (hopefully) got at least got one batch at what is (hopefully) the "bottom" since mid 2020.

Disclaimer. I fully expect to either miss it by 1p and it then rocket to £100 overnight.... or I just manage to grab it and it then sinks to 10p within days and sits there until next year ;-)

I hope so, I've got ISAs for this year set to 12.95. After more than a year of willing it upwards... the one time i finally want it to go down, the bl00dy thing refuses to do so.

Funny. My father used to have a saying about people like you, who don't have enough information to form an accurate statement.

It goes as follows: "other people's insecurities are their problem, not yours. Don't let them affect you".

Or in a more constructive reponse, you have no idea about my personal finances. I could have just sold the family home with what little equity was in it and shoved it all into GGP for all you know. I could have just completed a DB pension transfer, taken the 25% PCLS and that's all I have to show for 40 years of service in a modestly paid job. So please don't make assumptions.

I was actually just trying to be positive and brush off the inrritation and watching today's gains wiped out in a few minutes. Many people on here having been posting for weeks about looking forward to the new tax tear and ISA/Pension season. I'm far from alone. It's intersting that you jumped on my post. But hey ho.

Well I was getting a bit despondent watching it tick up today while I have £40k in ISAs waiting to be filled at <13p.

But huzzah, some nice chunky sells and it's back to business as usual, wiping out those naughty and short lived shreds of optimism. Here's to 12p next week!

@Archways - Honestly, if you wanted a practical solution that you can achieve for virtually zero cost... then you could phone three of the leading IHT managers. Tell them you're looking to put £800k into an AIM portfolio and have some questions to ask them about their portfolio management. Then within those conversations ask what sort of benchmarks would one of their holdings need to hit before they were uncomfortable that it would pass scrutiny for BR and remove it from their portfolios. They'll cite some basics like a market cap of £500m (excludes GGP straight off the bat)... but hopefully they'll give more details too as Mingbat mentions above.

It's not foolproof... but that may be the closest you're going to get without paying Deloitte £20k to tell you that they're "fairly confident" with their answer.

Octopus, Downing, Investec. That'll get your started :)

@archways - If you could get a definitive answer (with Professional Indemnity Insurance) on a question like this, for £5... then at least three people on this thread would be out of a job :)

You won't get a definitive answer. From anybody. Because it's down to HMRC to accept it. And unless you know the date of your death and the exact position of GGP at that future date, then nobody is going to say 'yes' or 'no'.

Somebody above mentioned Octopus. They're a decent outfit who know what they're doing. Even on the products that they create SPECIFICALLY to avoid IHT, they will still put a big fat disclaimer on it saying "it might not".

However, since most people are holding GGP for it's growth potential, rather than it's potential IHT exemption, it's moments like this where we defer to the esteemed Rear Admiral Grace Hopper and the butchered misquote that we know and love her for.

It's called 'Bed and ISA' and last year HL told me that they didn't offer it because covid had left them shortstaffed.

So I use HL to purchase (I just like their app) the stock and then I immediately in specie transfer to a more competent platform that will Bed n ISA.

Unless they've sorted that out, then I think it may already too late. That said, I don't understand their 5 day SLA. Can't you just trade it yourself and transfer the cash to ISA and repurchase. You'll get nobbled by the spread, and their fee.... but it should be in time for this tax year? I'd give HL a call on the broker line and push back. They must do better. Or at the very least suggest a nearest solution.

The short answer is that when the day comes to fill in the forms for Probate, you (or your solictor) will complete the figure of the assets that you believe should qualify for BPR and therefore be exempt from IHT.

HMRC then pretty much choose whether they want to contest it or not. I've see it challenged a couple of times, but as we've been using specific IHT managers like Octopus, they don't go much beyond querying it. In other cases where it's been a legitimate family business, more info as to whether it's a qualifying company has been required.

Most IHT managers will keep an eye on the market cap of the businesses in the portfolio and they're likely to 'ditch' them if they get too big. That probably doesn't help answer the question definitively, but the bottom line is that it's not actually black and white... as is so often the case with our beloved tax man.

The below link offers a bit more on the technical detail and some references to the HMRC internal manual, for those of you who want to ruin a perfectly pleasant Wednesday evening.

www.pruadviser.co.uk/knowledge-literature/knowledge-library/business-property-relief-facts

"When... gold replaces fiat"

I have great confidence in the price of gold... but I can't get my head around the idea that the entire global system is going to collapse and all those gold coins and tins of canned food in the attic are suddenly going to come into their own. I just don't see how it's possible. There would be blood in the streets acrosst the planet.

I have a friend who's a gold bug. Late 30s now. Wife's been nagging him to cash in his couple of hundred k of physical gold/silver for ten years so they can buy a house for their family. He's been "waiting for the collapse of fiat" all that time. "Any minute now". Then he'd just buy his house for cash and have no mortgage. We sat down and worked out what they'd spent on rent in that decade, what house prices have done, the virtually free cost of gearing over that period etc etc. It was a pretty depressing moment for him when we calculated the opportunity cost. The bit that bemused me the most is that he was effectively betting everything on the complete collapse of the status quo. To me, that's like putting all your money on 100/1 horse. I just don't get it.

Anyway, I'm just musing, each to their own. Life would be boring if we all agreed. I certainly won't be complaining if $8k/oz does happen, as GGP will see me happily through to retirement and beyond! :-)

I only really come on here now to enjoy 24hr prediction posts like this ;)