Member Info for Rumpel

Happy to be informed by someone who has researched it, but have assumed most companies that issue shares for these type of schemes do so by issuing new shares rather than buying in the market. I guess some companies are more prolific (generous?) in the staff share schemes so the materiality on the overall issued shares can vary from company to company whether they are undertaking buybacks or not.

Less lines to read between! I take it as reassuring. Let’s see what the new CEO brings.

Denziiil - on the PHNX aboard around 12 / 13 Oct was an exchange about short term money market funds between Trek and Meconopsis. May be of interest if you’re holding significant cash amounts. I’ve not got much cash so can’t speak from own experience but Trek and Meco are both great contributors to the share chats.

Shearclass - thanks for your analysis on the sales growth. As you can tell, I only looked at the headline figure - my comment may have been a misdirected throwaway to one of my pet peeves when businesses talk about great sales growth when I was brought up on on the maxim of sales are vanity, profit is sanity, cash is reality. Of course, full analysis requires looking at not only more than just one line in any set of accounts but the trend over time and the notes! I think we're both on the same page that the future from Treatt should be positive.

You've probably googled it by now but off the top of my head, no special for Argentina.

Thanks Trotsky. Reckon we best leave it there before others on the board ask us to move on! Am sure anyone who is looking at this will be seeking their own professional input to make sure they are getting advice based on current rules.

Trotsky “ You could agree with your beneficiaries that they would bear the cost up to the value of the gift in the event that you require the funds (you could probably even draw up a legal contract to that effect) but beware the 7-year PET rules”. Am not an expert and not googled it but would a legal contract make this a gift with reservations and therefore keep it subject to IHT? Of course, it could be legal up until the point when you need to enforce it but on death, it may somehow have been a document that never existed!

Trotsky - thank you for your input. In my initial thoughts, i hadn’t considered smaller inherited pots may encourage ‘youngsters’ to make more of their own contribution but will this match greater drawdown of pots in drawdown and be net positive for AUM and L&G?

Re: annuity - I had reached the same conclusion as you in that buying an annuity to deplete a pension pot to divert what would be a 40% tax charge into something that provides a benefit would be pointless as any joint annuity will likely have a spouse as the survivor and therefore wouldn’t be liable to IHT anyway - and, as you say, annuities all come to an end on death unlike the pension pot.

No doubt the next few days and weeks will have the pension industry coming up with ideas though I believe the details of how this new tax rule will apply are still to be determined so no firm answers anytime soon on how best to mitigate it.

Potentially. If your pension pot is going to be taxed at 40%, then that’s 40% that could be better spent on an annuity. However, if you’re married, then no 40% would be payable. Also, will people now spend pots and AUM will reduce. May even deter some people saving for a pension? Or, play the long game, stay alive, wait for the next Tory govt and hope that they change the rules back to something more favourable.

Interesting update - some growth (7% growth is not amazing when I daresay inflation in some of their markets should have helped contribute to that) but I liked the cost discipline which suggests the benefits of the move are starting to kick in. The ‘jam’ bit of the sales team and future projects from their cashflow will hopefully deliver and if we can see acceleration of sales (obviously maintaining cost discipline), then I agree that this share could start to pick up. Fingers crossed!

Thank you. Nomlungu and yourself beat me to it. I’ve seen others use that site to get behind paywalls - very useful for lots of articles across the various UK press paywalls. Don’t know how well it works on others but no doubt a few more people will be saving the link for future use!

I can hear the collective groans after you all thought the Fleccy / DanielH re VOD / LLOY conversation was done and dusted but having caught up on the last week's messages, would add a thought for Fleccy.

My understanding of the Fleccy family position is that you still have the current year ISA allowances available? On the basis that my view it is best to fill up ISA allowance as soon as possible (perhaps more so if you think Rachel won’t be able to resist playing around with them to our disadvantage), have you considered selling some of your VOD to crystallise a loss to then report it to HMRC – think you can then carry forward 4 years which seems to dovetail with your timeframe. You can then place the cash proceeds into a current year ISA and buy the VOD shares back and any dividends plus future gains as VOD marches onwards and upwards to are all tax free. Downside, if VOD goes lower, losses in the ISA can’t be offset though you may still hold some in your GIA depending on how your numbers work. Appreciate you’ll have the spread and dealing costs to cover – never know, time it right, you may even make a profit on the transactions. Just look at Exil’s predictions!

I’m not an accountant / tax person so DYOR etc.

Brave is also good on cutting down on adverts - they may be required to keep certain sites free at point of use but can also make some sites unusable.

Whilst commission free, I did buy shares in a company on T212 and II and the II price was 0.4% better - they have to make some money somewhere, I suppose! Also, I had a limit order placed and looking at the day’s low, it ‘should have’ transacted but didn’t which I am guessing is linked to how they deal in the market. Neither has persuaded me not to continue using them, though.

I use T212 but not my only one. Attracted to it as there is no commission on dealing so makes little trades economic. Whole different ballgame as to whether I do trade in and out as I seem to think any rise on a share will continue! Should have paid heed to that before I sold my PSN a while back…

I am comfortable with any potential risk on the cash balances - T212 may use QMMFs which are not covered by FSCS, I believe, but you won’t know until after the day’s interest whether T212 used QMMF or a bank account.

Sorry, just catching up on recent posts and couldn’t resist making this one as I agree with Nettles about posters can have fat fingers, auto corrects etc. Besides, aware my own posts may not be 100% and people in glasshouses shouldn’t throw stones…

Cevod - from yesterday- “ Is it to difficult to write in correct English?” Love the irony!

Apologies again to all those who have just rolled their eyes.

Beo - if you scroll through the RNS, the MDV transaction is under a different heading (Purchase of Shares) which is consistent with the description in box 4b of her form. The first 2 officers’ notification are under employee schemes. Happy to be corrected if I have interpreted the forms in the wrong way.

Moleman - I’ve been lazy and only checked back to the RNS on 26 June that shows MDV bought the shares rather than given under an option / bonus scheme. Which RNS are you referring to in your comment?

Some may question your sanity if following recommendations from anonymous forums, journos and broker reports (whether the house one or not). Found the article online - I've not done the competitor analysis to determine if Treatt should sit where it does or closer to the sector leaders. PH job is to promote the company so will build the case that Treatt are above average and get the 'market' to re-rate them as a growth stock they were once upon a time. Operationally with the new premises move now completed, they are set up for it. Can the new CEO exploit this? If the Treatt team can and we see good results, then I think this will move upwards. Whether it is right for you depends on your own view of risk and reward across your portfolio in your investing timeline. I can't see it as the top performing share in the Index in 12 months, nor see it as the worse performing one.

Posting as something of a rate tart as from time to time some brokers offer incentives to switch…admittedly, the lead upto the end of the tax year seems to be peak season so perhaps a pity Redmayne didn’t advise sooner about their increases as with portfolios of c.£1m, incentives would be, imo, meaningful.

I’m only in UK listed shares (usually FTSE350) rather than overseas or funds so I’ve only ever considered that in my calculations of cost effectiveness.

Most recently, I have taken advantage of Interactive Investor incentive for my main ISA as they charge a flat fee and trading fees £3.99 vs my previous broker (Barclays Smart Investor) which was a %age and £6 per trade. I would add that the switching incentive from SI last year still made the switch cost effective (from HL).II also offer family / bundle deals as standard which could improve the economics for you and your wife.

My main GIA is going back to HL as their latest incentive stacked up for my circumstances as I don’t think I will deal very often in it (£11.95 per trade is relatively high in my view) but there is no platform / portfolio fee whereas SI charges that %age.

I also use a T212 account as wishing to experiment with trading more often on some shares (though am not sure if I am actually suited to that style as I seem to buy more often than sell) as it is platform and commission free so smaller trades are not having to cover any fees - just the stamp.

Haven’t really had a concerted looked at the research features on each platform (am not a chartist and it’s a foreign language to me). II certainly send out a lot of emails with links to a lot of articles.

Anecdotally based in comments on various boards, think SI typically takes longer to put dividends in your account vs II (and other brokers). Across the platforms I have used, I have found dealing and their ease of use much of a muchness between them but I wonder if T212 does sometimes not get the best price in the market (have seen one limit order not transacted when according to the day range it should have completed).

Depending on cash levels in your account, do consider interest rates paid - not checked recent rates but HL were highlighted as being poor in that respect. Don’t know if they have changed since then.

I also agree with the comment from Discus1 about broker counterparty risk.

The last point I make for now is that having accounts across a few platforms, I have to run my own spreadsheet to analyse share performance and acquisition costs when it comes to S109 holdings / CGT. However, probably appeals to my inner nerd and I have the time to do so.