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Post by GSV3MIaC on Nov 21, 2017 13:03:52 GMT
I managed to get my entire ISA allowance into ABLRate (and invested) in a couple of hours, but that did involve moving over quite a few existing investments .. I guess if you were starting from ground zero it could be harder, especially if you were unwilling to pay the odd 0.2% premium (which I cheerfully did... especially when it was myself I was paying, but in a few other cases too).
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Post by elephantrosie on Nov 21, 2017 13:22:26 GMT
I managed to get my entire ISA allowance into ABLRate (and invested) in a couple of hours, but that did involve moving over quite a few existing investments .. I guess if you were starting from ground zero it could be harder, especially if you were unwilling to pay the odd 0.2% premium (which I cheerfully did... especially when it was myself I was paying, but in a few other cases too). i was thinking of going the same ie. pay myself premium to transfer over my loans. am i right that the gain comes under CGT?
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blender
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Post by blender on Nov 21, 2017 13:31:45 GMT
I managed to get my entire ISA allowance into ABLRate (and invested) in a couple of hours, but that did involve moving over quite a few existing investments .. I guess if you were starting from ground zero it could be harder, especially if you were unwilling to pay the odd 0.2% premium (which I cheerfully did... especially when it was myself I was paying, but in a few other cases too). i was thinking of going the same ie. pay myself premium to transfer over my loans. am i right that the gain comes under CGT? I think that technically you did not/will not buy it from yourself (other account), because the sale and purchase transactions are not linked together by any paper trail you have. It's very likely that the transactions match - but not 100%. I think you should treat them as separate interactions with the SM (at the market rate). Which I think means yes to your question - the (unstated) ID of the purchaser is not relevant, as with a share sale. (We filled two new IFISAs that way very quickly - though do not have a CGT issue).
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Post by GSV3MIaC on Nov 21, 2017 19:39:39 GMT
My understanding is that yes, it might give rise to CGT, although the jury is out (sale of simple debts etc.) and I'm not threatening the CGT threshold(s) anyway. And yes, I can never be sure I sold to myself, since I sold on an open market, and there were / are other buyers and sellers.
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Post by elephantrosie on Nov 21, 2017 21:32:14 GMT
thanks, i am far from the CGT threshold, so will use this technique
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blender
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Post by blender on Nov 21, 2017 22:38:24 GMT
My understanding is that yes, it might give rise to CGT, although the jury is out (sale of simple debts etc.) and I'm not threatening the CGT threshold(s) anyway. And yes, I can never be sure I sold to myself, since I sold on an open market, and there were / are other buyers and sellers. I think you put the loan part on the SM. While you were swapping to your IFISA account someone bought your loan part quickly, then changed their mind and put it straight up for sale again on the same terms. Then you bought their part.
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elliotn
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Post by elliotn on Nov 22, 2017 7:14:04 GMT
thanks, i am far from the CGT threshold, so will use this technique You may wish to confirm with tax advice.
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Post by GSV3MIaC on Nov 22, 2017 8:26:58 GMT
thanks, i am far from the CGT threshold, so will use this technique You may wish to confirm with tax advice. Are you worried about the CGT, or the selling to yourself? You can do the latter with stocks and shares too, especially in thin markets. Last time i checked the opinion was no issue, as long as it was all done at open market prices.
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blender
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Post by blender on Nov 22, 2017 8:58:19 GMT
I think the advice given here by elliotm is always sensible to add to the discussion.
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rogerbu
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Post by rogerbu on Nov 22, 2017 15:04:41 GMT
Just to confirm the point. When selling on one account and buying on my IFISA account. Someone did manage to sneak in and gobble one of my sold loans. They bought at a small discount whilst I had a small loss. That's the risk you take
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stevio
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Post by stevio on Nov 22, 2017 19:14:13 GMT
Thread digressed a little!
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blender
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Post by blender on Nov 22, 2017 19:25:16 GMT
Thread digressed a little! The new loan is at 70% of the first 'tranche' of £500k. When filled it will be extended to £1M. Does that mean the first £500k will be drawn down while the second tranche is filling? The instant returns would be affected. (Thread back on subject)
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elliotn
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Post by elliotn on Nov 23, 2017 1:07:13 GMT
Thread digressed a little! The new loan is at 70% of the first 'tranche' of £500k. When filled it will be extended to £1M. Does that mean the first £500k will be drawn down while the second tranche is filling? The instant returns would be affected. (Thread back on subject)
Normally the funding total is moved within the 30 day listing.
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Post by investorman on Dec 1, 2017 13:31:42 GMT
Has the new yacht loan hit troubled waters Ablrate?
No news last week (when we were told to expect it) and no news this week also.
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blender
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Post by blender on Dec 1, 2017 15:14:28 GMT
Has the new yacht loan hit troubled waters Ablrate? No news last week (when we were told to expect it) and no news this week also. According to the 24 Nov email we could expect either an aircraft or a yacht this week, i.e. by today. It just looks like that has slipped a little, or the car loan needs filling first. But new loans are not even behind expected schedule until today is out.
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