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Right Barchid, I think you are getting a bit grumpy.
I don't intend to frighten readers, but merely state what is HMRC guidelines, and by the way the adviser was not a pal, somebody I met at a trustee meeting. I will now write down a statement, if there is room on this slot. If you include your email, I will send you a screen shot of actual written comment. Which I searched on the net.
HMRC has a set of ruies to determine the type of company. Must be trading and must not be listed on a main stock exchange, either UK or abroad. The most notable exclusions are, companies that mainly deal with investments, land or buildings and foor non profit.
However the HMRC does not provide a list of companies, instead it assesses the company retrospectively when a claim for relief is made (during probate process). HMRC will confirm if the companies of which the deceased was a shareholder, qualifies for. BPR and subsequently be passed on free of IHT.
So make of that what you will. It appears to me defined, but I do have an open mind. Some would consider it a grey area, which I believe the HMRC would play on in these desperate times. I value yours and others comments. Cheers
OK Barchid, to quote your own statement Google again "is Jarvis an IHT free aim stock" scroll down to shares magazine "Bin the taxman" click on that, scroll down to a headline in red. "what doesn't apply" and read the short statement ?
Hi Barchid, thanks for coming back. Yes Chris Boxall did and I quote"Believe"that Jarvis is IHT free. But a financial adviser I spoke, who also worked for HMRC previously, said no. He unfortunately passed away in the covid outbreak last year. Companies who deal in stocks and shares, and COMMODITIES, financial are excluded. I can imagine HMRC would also question that. Going forward Mr Sunak, is also looking at IHT avoidance schemes. It would be nice to think Jarvis is, but, I doubt it. It needs more delving into.
Barchid, am I wrong in assuming you believe JIM to be a IHT free business , because it isn't. It's not a BPR, Business Property Relief fund. I apologise if I interprate your statement wrong. The only part I could assume is in Property Relief, would be the building the business rents out, according to the financial statements?
HL share price 15.02 Jim share price in the pre split 12.68 as of now, is a good comparison. HL are more expensive outfit than Jim, that's why I got out of HL. There only advantage was they deal in foreign shares Where as Jim sticks to its system "if it works, why fix it" as there director Jolyon stated
Hi Jarvis fans. History of there growth pattern and dividend payments, confirms a progressive, successful company, irrespective of ups and downs of the market over the years, and generous dividends. My long term favourite, since 2010
Yes I accept that, that's why I mentioned just listen to the first 3rd of the conversation. My experience is that these guys are playing a hunch. It was just his reason to hold Jarvis, because of interest rate increases, and Jarvis cash mountain.
Just thought I'd pass it on, nice to know funds are holding Jim, like Unicorn vct, cheers