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Bought some at 63p on the way down.
Would be double at £1.26.
Capital Gains allowance going down, so will sell before April 2023.
HSBC is dis-continuing the Jade program, but it is not clear whether the TEN concierge perk carries on. Depending on assets invested with HSBC, you are either a Private Bank, or Premier customer. I expect Private Bank customers will keep the concierge service, and Premier customers not.
I worked for a company, let's say X, the catering company we used to provide the staff canteen was company Y. Guess what, our CEO, of X, was also a director of Y.
Booking business travel is a gravy train.
I have seen companies having policies that insist you book through appointed agents.
They say this way they get bulk discount, but if you bought a ticket from the airline yourself,
it's way cheaper. When you dig a little, you find the director that forced the policy is also connected to the travel company.
What we want, is for these new TEN directors to be on the board of BP, etc. ,
and make all travel bookings go through TEN. A business class ticket for £2,000 normally,
would be quoted as £3,000 full price, but you get a corporate discount so it's only £2,400.
What a bargain. You get 100kg of luggage allowance, and caviar, if anybody asks awkward questions.
The flaw in the gravy train business model is, business travel is tax deductible,
whereas a concierge service user is spending his own money, with no tax deduction.
So why would they pay extra to book through TEN, if they can get the ticket cheaper by booking direct?
If TEN can handle cancellations and refunds, that's worth something, but I doubt they want to touch it with a barge pole.
Tax rates around forty years ago:
https://resource.download.wjec.co.uk/vtc/2015-16/15-16_20/unit7/TaxRates73-90_resource.pdf
You get what you pay for.
They could move to a subscription model.
Your NHS subscription could be be tax deductible.
Gold service gives you advanced cover.
Silver service excludes expensive treatments.
Bronze service gets you basic first aid, plus a selection of euthanasia.
Mercy killing saves you from a lingering death.
Sign here to agree to the euthanasia.
But my hands were crushed by the machine where I work.
No paper work, no waiver, you just go home and die. Next.
There is supposed to be an income stream from completed installations.
Should provide a basis for rising dividends.
But of course, it's simply syphoned off, away from the shareholders.
When it's wound up, the balance sheet will show plenty of debt.
The schools will still be paying, to somebody else.
In the solar panel rent a roof scam, the original installation company has closed,
but the Feed-in-Tariff cashflow was sold off to another company,
with no obligation to maintain the solar panels.
"After the journalist explained the S&P 500 had dropped 20% this year it would have some impact on London’s stocks. But there was a way to mitigate this……"
So, you buy S&P 500 for £100k, and now you have £80k.
Crystalise the £20k loss, and buy "healthcare and telecoms" in London.
It's like saying you lost money on Red Rum, now bet on Shergar.
It's a sure thing, init?
"A stockbroker is someone who invests other people's money until it is all gone.” — Woody Allen
Looks like somebody set a stop-loss around 60p.
Or is it a bed and ISA?
It looks like, when the going is good, and people book restaurants, it shoots up to £1.20.
When people tighten their belts, so no bookings, TENG plummets.
What happened to Magrathea?
"The Magratheans went into hibernation, awaiting an economic recovery that could afford their services once more. Mostly everyone except Slartibartfast is seen to be in hibernation. Magrathea itself disappeared and its memory soon passed into the obscurity of legend."
If you believe their line, about catering to HNWIs, then you should accept
that these guys can afford to eat, while the rest queue for food banks.
If it does plunge to ~30p again, I'll have some.
The last time it crashed to about 29p.
I bought some, just for fun, and sold around 69p.
I like to use up tax free allowances.
The golden age of Buy To Let came to and end, as this explains.
https://www.which.co.uk/money/tax/income-tax/tax-on-property-and-rental-income/buy-to-let-mortgage-tax-relief-changes-explained-atnsv0j6j782
Hello, capital gains allowance and dividend allowance.
I was so happy when the dividend allowance was £5,000 , in 2016/17 and 2017/18.
Sold a Buy To Let in 2016, before the landlord bashing started,
so had the full benefit of the £5,000 tax free dividend.
Even if you go over the £5,000, basic rate for dividend was only 7.5%.
Rental income would have incurred 20%.
For retirement, you have state pension and private pension to soak up the Personal Allowance.
Ideally you want everything to be inside an ISA, but the rest could be positioned to take advantage
of the capital gains and dividend allowance.
I have been musing over the merit of tax credit for marrying ugly women.
There is Help to Buy for houses, for people who cannot afford to buy a house,
so why not an incentive to help getting people married.
It's not so much means tested, more opinion poll tested.
It's equal opportunity, so applicants get their photo put on www.ugly.gov.uk .
If you get enough votes, you get a voucher.
The person who marries you gets the tax credit.
What I find dodgy about share buy back is, isn't it insider trading?
Who else knows what the shares are worth better than the managers of that company.
Another aspect is, if you buy a share that is 50p fair value for 45p, doesn't that mean the seller lost 5p per share?
He could say he was misled by the information put out by the company, which could be construed as price manipulation.
I want the profit in dividend or capital gains depending on how much tax free allowance I have left.
In the end, they don't decide on returning value to shareholder policy because they give a damn about ME.
The institutional fund manager just has to make a phone call, like "My pension fund doesn't pay capital gains tax,
so I want the return in capital gains."
Does he end the sentence in "PLEASE." or "OR ELSE!"
That is what I want to know.
What we really need to do is to create a new town, say, in Wales, built from scratch.
Make sure it doesn't flood.
London becomes a quaint tourist attraction.
Every house becomes an AirBNB.
When climate change overcomes the Thames Barrier,
and London is inundated, we make it a paradise for Scuba diving.
Make it a treasure hunt. What you dig up, you can keep.
Port Meirion pottery, copper cable.
They PAY to recover the copper.
https://www.barclays.co.uk/smart-investor/news-and-research/stocks-and-shares/should-you-hold-aim-shares-in-your-isa/
"There are other tax advantages for AIM investors, whether or not they hold their shares inside or outside an ISA. Most AIM stocks are exempt from inheritance tax (IHT) if they’ve been held for more than two years, and depending on individual circumstances it may be possible for AIM shareholders to qualify for the income tax and CGT reliefs when held via an Enterprise Investment Scheme, or through CGT Entrepreneurs Relief."
The IHT threshold of £325k has been frozen for years, and more and more estates end up paying 40% IHT on the money above the £325k threshold. There are funds that try to exploit this loophole.
On death, capital gains is reset, so no CGT to pay.
So, granny has £400k in assets, she can buy £100k worth of AIM shares,
not die for two years, and the £100k will be free from CGT and IHT. when she does passes away.
So, another possibility is, Mr. Kight has cancer, and the doctor gave him two years to live.
If EVG stays where it is, so £2m is still £2m in two years, he saves 40% IHT on the £2m, that is £800k.
If EVG 20x bags, there is no CGT, that is £40m tax free to his heirs.
Doesn't have to be inside an ISA, either.
The DB scheme from my old company was farmed out to CAPITA.
Check out comments about CAPITA's pension management, it's dire.
They win bids, because they have no intention of putting any resources into it.
If CAPITA goes into administration, like Carillion, there is nobody to administer the DB scheme.
Delay taking the benefit? Take 25% tax free lump sum?
They probably just make up a number and tell you to take it or lump it.
https://www.gov.uk/tax-employee-share-schemes/save-as-you-earn-saye
Twenty five years ago, I signed up for £250 a month with my company, not BT.
The price was fixed at £5, and it went up to £18 at its peak.
From the £18 peak, it started falling. The company started cutting staff.
Three year term or five year term means you are not allowed to cash in, unless you left the company.
Because I was made redundant, I COULD buy the shares at £5.
By the time I received then shares, it was down to £12.
I sold at £10 and £9, so was in profit, but it's not that much.
The colleagues who stayed could not exercise, because the five year term was not mature.
By the time they can exercise, the share price was £2.
You don't lose the cash saved if you don't use it to buy the shares, and you get some interest.
Schadenfreude. ;)
I have ISA and SIPP, but there's money outside waiting to go in.
Selling £20k chunks every year is another tax filing nightmare.
If you do it properly, you have to keep your trading history from forever.
If I have to work it out in conjunction with scrip dividend history, I think I will kill myself.
But that means paying 40% Inheritance tax. ;)
I find re-investing dividend outside an ISA or SIPP terrifying, because I find the tax reporting mind numbing.
You buy 1,000 shares, and elect to receive scrip dividend.
Do you pay tax on dividend yearly? But you can't spend it, because you haven't got the cash.
And then you sell 1,013 shares, a few years later, do you separate out the 13 shares, and only pay tax on the gain on 1,000 shares?
This is if you haven't been buying and selling, which just make it insane.
https://www.thetimes.co.uk/article/tory-fundraisers-concierge-firm-quintessentially-seeks-140m-sale-6mjjfj7zt
"Quintessentially, the concierge company founded by controversial Conservative Party co-chairman Ben Elliot to provide exclusive experiences for the wealthy, is set to be sold — with bosses hoping for a price as high as £140 million."
Maybe the activity will pique interest in the concierge field.
Vultures, come and circle.
Private equity, sniff away.
"which is why I picked up some TENG at 92 a couple of weeks ago, I think this is one to hold for 6 to 9 months."
Welcome to the club.
I think you have a rose tinted view of what they can do. I asked for a ticket for Sweat at the Donmar Warehouse.
It was declared sold out through normal channels, and the TEN people said they release held back tickets every Monday.
Followed by silence. Not even a final "nothing, nada, we tried." This is before the pandemic.
Let us say Donmar Warehouse had six tickets they reserved, I was not top six material for weeks.
I still have a few shares, so don't want to knock it too much.
If they really can get pink elephants and Limited Edition Ferraris, and charge handsomely for it, I am not going to complain.
Tried to get a table last week, for Tuesday. I gave TEN a chance, but I could have done it quicker by OpenTable.
"There will always be a money trail to follow."
In that case, all the money sent due to Authorized Push Payment Fraud should be traceable and refunded.
Identity fraud using personal information happen all the time, and the banks don't even refund the money.
Large sums should be by cheque, and BACS transfer should take four days to clear.
Ideally, a cheque above, say, £10,000 should be confirmed by a BACS style instruction online.
"It is now possible to send an individual payment of up to £250,000 using the Faster Payments Service."
Who asked for this non-sense?
Small amounts go through instantaneously, no problem.
£250,000? Nuts!
You make it convenient to transfer money, for you, or for the crooks?