niceguy37
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Post by niceguy37 on Oct 7, 2015 16:00:00 GMT
Does "Instant Returns Enabled" mean that interest commences as soon as one has bid, or as soon as the loan draws down?
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arbster
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Post by arbster on Oct 7, 2015 16:00:56 GMT
Does "Instant Returns Enabled" mean that interest commences as soon as one has bid, or as soon as the loan draws down? As soon as you bid.
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SteveT
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Post by SteveT on Oct 7, 2015 16:01:12 GMT
Does "Instant Returns Enabled" mean that interest commences as soon as one has bid, or as soon as the loan draws down? As soon as you have placed your bid.
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niceguy37
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Post by niceguy37 on Oct 7, 2015 16:27:58 GMT
Thank you
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shimself
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Post by shimself on Oct 29, 2015 16:10:38 GMT
Is the instant return p2b? If money was bid but not yet drawn down and then (sorry) ablrate had a problem who would owe me?
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Post by ablrateandy on Oct 29, 2015 16:17:23 GMT
Ablrate would owe you.
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james
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Post by james on Oct 30, 2015 1:27:30 GMT
In one case Ablrate has already paid for a loan that did not draw down, so no need to wonder whether they will really pay if that happens.
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blender
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Post by blender on Nov 4, 2015 18:13:39 GMT
Instant returns is interest according to Ablrate. 'Instant Returns is activated on this loan, meaning that you will be paid interest of 10%pa from the moment that you place a bid.' So why are previous instant returns not shown as interest on my dashboard?
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Post by ablrateandy on Nov 4, 2015 18:17:24 GMT
It should probably be classed as "an equivalent of 10pc interest" . At some point it will be displayed in its own separate little total.
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duck
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Post by duck on Nov 5, 2015 6:51:35 GMT
It should probably be classed as "an equivalent of 10pc interest" . At some point it will be displayed in its own separate little total. Glad to see that even if the terminology changes it will still be possible to separate out true interest (loan drawn down) and 'instant returns'. I currently produce interest and instant returns as separate totals on my tax returns spreadsheets and I note the return accordingly. I view this approach as an illustration to HMRC that I am declaring all income not just interest.
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blender
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Post by blender on Nov 5, 2015 8:58:34 GMT
Dear Duck, if it's called interest by Ablrate and it is paid like interest as a percentage of principal per time period, then it is interest. Who pays it does not matter. We pay tax on bank interest.
Are we really so desperate to avoid paying our dues?
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duck
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Post by duck on Nov 5, 2015 9:26:35 GMT
Dear Duck, if it's called interest by Ablrate and it is paid like interest as a percentage of principal per time period, then it is interest. Who pays it does not matter. We pay tax on bank interest. Are we really so desperate to avoid paying our dues? I think you misunderstand my post. I declare 'instant returns' and 'interest' as one final figure and am taxed on this total amount.
With VAT, investment interest is not VATable but HMRC work(ed) on the basis of 'income to the business' ..... I had long protracted correspondence with HMRC on this matter some years ago before they re-funded a 4 figure sum (their web guidance remains incorrect).
With these investments I fully accept that 'instant returns' are taxable under the current rules (as I understand them) but by having 2 separate figures (which I then combine as a final figure) I can show to HMRC that I am not hiding any 'income'. If at a later date there is some form of positive tax tribunal 'clarification' (as was the case with VAT) then the figures will be to hand.
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blender
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Post by blender on Nov 5, 2015 11:21:05 GMT
Dear Duck, you are right. Sorry for misunderstanding your post. But I would not want any simple income tax payer, like myself, to be misled into under-declaring taxable income. We should pay up these small sums to help pay the tax-credits of the working poor, or I suppose to keep expensive abominable unusable weapons roaming the depths, or to help bomb the poor people of Syria back to the stone age. Hmmm.
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Post by ablrateandy on Nov 5, 2015 13:38:39 GMT
Submarines are cool and would be on my list of "Stuff that the government should be allowed to blow money on". That list also includes, but is not restricted to :
1. Getting Concorde back in the air or making an even cooler version 2. Fireworks displays 3. Good TV programming 4. Free Cake Wednesday 5. Pavements that light up when you walk on them (invented but woefully deployed) 6. A MASSIVE Royal Yacht and Air Force One that can rock up and make an impression rather than having Her Maj descending from some dilapidated 747 to the sniggers of more despotic leaders. It would also have some way for her to death slide down rather than having to use steps
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SteveT
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Post by SteveT on Nov 5, 2015 13:45:29 GMT
I was in NY last week and happened to see the Presidential flight arrive en-masse at the Downtown heliport: 2 dedicated Sea Kings (always brings along a spare!) and 3 (!!!) Osprey tilt-rotor aircraft. Now THAT'S how to make an impression on the locals. And he wasn't even on board, it was just a dry run.
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