Member Info for ICL1960

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.

Where is the dividend?

If they have a steady income stream, from existing installations, that is a river of money for dividend.

"Is that a 40% turnaround?"

According to lse.co.uk Sareum Share Price

Open 3.90
High 4.75
Low 3.10

53% = (4.75 - 3.10) / 3.10 jump from bottom of the day.

or 21.79% = (4.75 - 3.90) / 3.90 from Open.

"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?

I want to be paid when I make a loss
Otherwise it's all one sided.
It's only fair.

"i thought declaration was 28oct? with ex divi dec"

This fits in with

https://www.investorschronicle.co.uk/company-news/2020/05/07/bt-axes-dividend-till-2022/

"BT axes dividend until 2022
The group expects to resume payouts in 2022
May 7, 2020
By Lauren Almeida"

Time flies.

Commission!

"Whilst bookings are now back to 2019 levels, commission levels1 in the four month period are 30% above the levels of 2019, largely due to the impact of a change in mix led by more hotel bookings, and fewer lower margin flights.""1 Ten's revenue from its supplier base, such as hotels, airlines, and event promoters which sometimes pay commission to Ten constituted £5.5m (12% of Net Revenue), for the 2019 financial year (as reported in the 2019 Annual Report and Accounts)."I knew it, they get kickbacks when the members make a booking.It's easy to work out. Try booking a hotel direct with the hotel, on their website, to get the price,and then through TEN. Cancellation policy maybe different, though.They can sweeten the deal by a free glass of champagne with a meal.At least the business model is as expected. "We will fleece everybody to make a profit."Quite promising for a shareholder.

Never caught anything fishing for years.
Went to Homer, Alaska. They have boats that take you out.
They even bait the line for you. You get a 3 foot halibut in no time at all.
It's almost like a diver is down there hooking the fish for you.
Limit of two fish per customer, though.

Waiting for a big halibut.

https://www.peninsulaclarion.com/news/homer-chamber-of-commerce-ends-halibut-derby/

No, no, no, let it fall, so daddy can fill his boots at £2.83, like 19th September 2020.

The idea is to get £50k+ worth in an HSBC S&S ISA.
You pay £40.20 a year for an Investdirect dealing account, and get the S&S ISA for free.
Receiving dividend costs nothing.

So, buy 10,000 shares at £3, that's £30k, then goes up to £5, so it's £50k.
Let's say it goes back up to £5 because of 5% dividend, that's £2,500 dividend a year, tax free.

That's the kind of money tree I want for Christmas.

https://www.theguardian.com/business/2021/aug/14/warmth-from-the-earth-and-air-could-heat-pumps-replace-our-gas-boilers

"The RHI pays out £6,000 in quarterly instalments over a seven-year period to help defray the costs of heat pumps. Ministers are reported to be considering replacing it with a £400m boiler scrappage scheme, which would offer £7,000 grants.

Heat pumps are already popular, but the cost is many times the price of a gas boiler, starting at £6,000 for an air source pump; for a ground source pump the price could climb from £10,000. And many homes need extensive insulation work before they can be installed."

Similar business model:

We put in heat pumps for you, at little cost to you, but you sign over the grant money, and maybe pay ongoing rental for the installation.

Obviously, you sell the future cashflow for cash now, to pay for these £10,000 per household upfront costs.

The only problem is, how do you get all these air-con engineers to work for you.
Cowboys will sign up left right and centre.

Let's face it, unless you are extra rich, nobody is going to fork out £10,000 for heating.
You would just buy an oil filled heater for the living room, and maybe one for the bedroom.

If the government is going to hand out £7,000 per household, GRAB it!

We’re making some changes to our Terms

HSBC Jade Account

We’re changing our rules on who can apply for an HSBC Jade Account. Right now, to qualify for an HSBC Jade Account, you must have an existing HSBC Premier Bank Account and pay your annual income into that account. You must also have either:

• savings and/or investments of £500,000 or more with HSBC in the UK; or
• a relationship with HSBC Private Bank in the UK.

We’re increasing the total savings and/or investments required from £500,000 to £1,000,000. We’re also removing the requirement to hold an existing HSBC Premier Bank Account. Existing customers with any HSBC bank account, or new to bank customers, can now apply. You’ll still have to pay your annual income into your HSBC Jade Account.

Affluent is no longer good enough.
Only real HNWI will do.

Jade was the poor man's Private Bank account, for those without £2million to spare.
In Asia, the minimum was US$1m, so around £700k, now they are upping the Ante for the UK.

Need SAR to hit 40p, just so I can keep my free perks.

The question is, are you prepared for it?

If you won the Lottery, say £1m, do you pay tax for it?
I don't think so, because winnings from gambling is tax free.
You got lucky if you didn't know either way.

I have been musing what would happen if my SAR shares were not in an ISA.

If it shot up to £3m, which is the minimum for a Coutts Private Bank account,
and I jumped at it. A year later , the capital gains tax bill is roughly £500k.
E.g. You bought at 3million shares at 1p for £30k, sell at £3m for £1.
The gain is £2,970,000 = £3m - £30k
At 20%, the CGT is £594k = £2,970,000 x 20%

If I would rather die than give up the Coutts account, I cannot withdraw £594k, so I have to sell a Buy-To-Let property.
A £1m BTL is generating rental income perfectly nicely, with the expenses offsetting the rental income, and even enjoys some capital appreciation. Now, I have to sell it, which incurs 28% (property) capital gains, so £200k+ in CGT. So, I pay
~£800k = £594 + ~£200k to HMRC in CGT, leaving me with £200k, and no regular income from the BTL. and no capital appreciation.

Even if the SAR shares were in an S&S ISA, the trap is now I can't spend it!
I have to keep £3m in the Coutts ISA, otherwise I don't qualify for the minimum.

Let us say the £3m ISA generates £100k a year (charges, Coutts ain't cheap) it gets me a few weeks rental on a yacht.
At that price, I'll be lucky if it has a jacuzzi, and more than likely it's self-service, no crew.

"The most commonly quoted figure for membership in the high-net-worth club is around $1 million in liquid financial assets. An investor with less than $1 million but more than $100,000 is considered to be "affluent" or perhaps "sub-HNWI." The upper end of HNWI is around $5 million, at which point the client is then referred to as "very HNWI." More than $30 million in wealth classifies a person as "ultra HNWI." "

US$5m = £3.6m

So, a promotion from affluent to bottom rank HNWI doesn't even get you a Coutts credit card.

METRO Bank has a £1m minimum for a Private Bank account, but who wants that?

"Whilst I would love to know who they are , for the time being I am content in the knowledge that they have seen the potential upside and have decided to followed my money , I will now follow theirs ."

"The Million Pound Bank Note"

Henry Adams has a million pound note, and he buys shares in a gold mine, every man and his vicar pile in.

Starring Gregory Peck.

https://www.londonstockexchange.com/stock/SAR/sareum-holdings-plc/company-page

Click on duration: Today, 1 Week, 1 Month, etc.

"To me it seems peculiar that all 3 have decided to remain anonymous... With not one choosing to 'break rank'?"

Three? The HNWI, his wife, and his mother, you mean.

Or, the HNWI, his sister, and his good for nothing brother-in-law.