Member Info for Rumpel

BTB - I believe so as the dividends will be paid on the shares you held when they went ex div. If those shares were held outside a tax wrapper at that point, then they’re subject to tax with the amount of tax payable taking into account your allowances and other income. My caveat - I am not a tax expert.

Started to watch it and then realised it was from the same outfit (ie Property Gorilla) that had a link posted on PSN (on 6 Jan). That video wasn’t accurate and so have not bothered to see if the Vistry one is any better. Happy to hear opinions from others who have spent their time to watch it all.

Oiled - I may be misunderstanding your intentions but if you’re moving to AJB, surely best to put your new tax year ISA allowance money into your new AJB ISA rather than into HL and then transfer all across to AJB?

Or not?! Looks like they crossed the threshold on 4 Feb…I don’t know what the reporting requirements are for non-UK entities.

SG - may I suggest that you take some time to review Strictly's previous posts over the years and take an impartial view of them and the latest ones? Strictly's position has been very consistent.

Your wife may well work for Bellway and have some inside knowledge (I don't mean equivalent to insider dealing) that gives you comfort though Strictly is reviewing the public info so his investment decision (ie not to be currently invested) is driven differently to your own. Doesn't make either of you wrong or right - end of day, always DYOR. Strictly has even offered to engage in debate on the numbers.

Strictly - thank you for your input. And for coming back on this board after seeing someone else requesting your view on the latest results.

Pappalazz - others may chip in on this (including the advice to see a tax specialist!) but reading the matching rules, my head is still saying the capital gain from the sale is calculated by matching the sale to any same day purchases, then any purchases within 30 days and then to the section 104 holding. So, given LLP did buy some back yesterday after the Trump tweet, some of their original sale will be deemed to be the sale of the shares they bought yesterday, it is likely that will have created a capital loss on those shares as well as not triggering as high a profit on the original holding.

LLP - not sure what your biggest ‘peeve’ is about your sale yesterday but if the CGT angle is prominent, presume you’re mulling over Bav1975’s post and the pooling rules under section 104 whereby, my non-accountant understanding is, you have 30 days to buy back in and use that as your acquisition cost and reduce your gain (or create a loss). Obviously, buying back at a higher price will still have a cash cost on whatever number of shares are bought as you could hedge your bets and only buy back a proportion of those sold. And who knows what the RR price will be in 31 days time…hoping you find a crystal ball though that may be an object as mythical as a Truthful Trump!

Fleccy - have you read the LGEN board? On 20th March, Meconopsis posted a link to a sub stack by Gordon Aitken on Private Credit. I recall another poster had shared the same link previously but found Meco’s link first. Gordon’s articles have been recommended by quite a few posters and I would class as a great research source for investors interested in the insurance sector.

Copied from the RNS:

“Balance Sheet

The Group generated a net cash inflow of £36.5m in the year, reducing the closing net debt position to £144.2m as at 31 December 2025 (31 December 2024: £180.7m). The Group's average daily net debt in 2025 was £733.7m (2024: £698.1m) which was higher than targeted, due to the delay of a number of Partner Funded deals towards the end of the year, as well as challenging Open Market conditions impeding the pace of working capital reduction. It also reflects the higher opening debt level.

During the year, the Group maintained an acceptable level of headroom against both its borrowing covenants (Gearing, Tangible Net Worth and Interest Cover) and its committed and uncommitted borrowing facilities, which total £1,130m.

Reflecting the phasing of sales in late 2025 and early 2026, average daily net debt is expected to rise in the early part of the year. In order to address this, and reduce average net debt in H2, the Group has initiated an enhanced sales strategy to support a reduction in inventory levels, drive good revenue growth and strengthen cash generation, with a target of a net cash balance of c.£100m as at 31 December 2026.”

Must be some seriously chunky amounts going through their books to have such a difference between the average net debt and year end position. I’m with Crossley!

Madmat - the old Phoenix board retains previous chats so all is not lost. Suspect the useful discussions from the past will resurface here over time anyway.

UI - ex div on 12/3 with payment due 30/4. Amount looks right on current FX rates but could still change between now and 20/4 when rate is determined. Info taken from the HSBC Investor Relations site.

Hi Mr A. Will miss your posts and hope to see you back at some point. Fingers crossed the wife can still get her cruise and you avoid the doghouse. ATB.

I see the ME as negative for Ukraine on the basis that Russia has their own drone manufacturing (happy to be corrected if this is wrong and there is some form of dependence on Iran) and military equipment / air defence may be less forthcoming from USA if the ME drags on as they will be keeping an eye on their capability to continue in ME but also an eye to China / Taiwan.

Remains the case that FXPO continues to be subject to a number of risks outside their control and the ME conflict is just another strand that connects back to Ukraine’s efforts to defend themselves against Russia.

Possibly a bit like the house builders in that industry chat tends to be on just one of the forums?

Thank you Corradus. With Friday’s drop and the events in Iran, looks like I won’t be selling any Barclays shares for a while though as Rookie often states, the FTSE upward movements defy some logic.

Hi Mr A.

Thank you for your ongoing sharing of interesting articles and views of Barclays.

I’ve not gone into the detail of each of the 6 AI model outputs though my initial thought was one of ‘ask 6 different brokers and you’ll get 6 different answers’. Are AI models any different to human beings?! And will all AI models eventually converge to one output as they scrape info from the web, including other AI models, and be something like an echo chamber? I don’t know the ins and outs of how the AI models truly ‘learn’ so would readily accept a more knowledgeable poster shooting that idea down.

As for my parachute cord …well, probably something beginning with a ‘5’ though having made some previous sales too early, I’ll probably be too late on this occasion even though my head is saying I need to diversify (but to what - another imponderable) especially when so much of Rookie’s comments make sense to me. Fortunately, I am sitting on some healthy paper gains so if I am too late, I can just wait until there is a recovery as galling as it would be to know I had missed out on tucking away some profits.

The Bizzle - couple of options you may want to keep as favourites in your browser so you can get dividend info:

https://www.aviva.com/investors/dividends/

(most companies have their own investor relations section containing info on dividends on their corporate website)

https://www.dividendmax.com/united-kingdom/london-stock-exchange/life-insurance/aviva-plc/dividends

(very useful site if you have a number of companies for which you wish to find dividend info - data usually accurate)

Mr Nelly. I’ve transferred brokers a few times to grab some free cash and where ongoing costs would either be thereabouts with my existing broker or reduced (my portfolio is also mainly FTSE and am an infrequent trader). Not that I am a tax expert but I agree that if it is a transfer of holdings, then no CGT payable as you’re not selling the shares. Incentives paid do vary even from the same provider over the course of the year so it may be that the £200 can be improved upon if you’re not already committed on your account. Nothing is guaranteed, of course!

Hi Gungi. That’s not one I had looked at so will check it out. Thank you.

Hi Chat. I do the latter. I’ve read others who do the former and using this principle may have got their average to nil, or negative, which to me doesn’t give me a useful result. Obviously, getting the average to that level is an extreme but even one step down that route is a step in the wrong direction, so to speak. I recognise we all have our way of measuring our investment performance so I am not saying my way is correct - it’s just the way my logic works.

I run my own Excel to try and track all this but it’s not the finished article as events happen which throw out some of my formulae. Fortunately, most of my portfolio has benefitted from capital gains and I don’t sell too often so the need to be accurate is not time critical and I can continue to nerd out on the spreadsheet at my leisure. Every so often I surf to see if there are any apps that would take this task away from me but not found one that does everything I would like and / or subscription is a cost too far.