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Post by nesako on Aug 31, 2017 8:31:37 GMT
Huddle 100 members, how are you going to declare the Huddle 100 bonus on your next annual tax return? as "other" income?
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IFISAcava
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Post by IFISAcava on Aug 31, 2017 8:36:13 GMT
Huddle 100 members, how are you going to declare the Huddle 100 bonus on your next annual tax return? as "other" income? I thought cashback "incentives to invest" are regarded as non-taxable, a form of discount. Might be wrong.
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Post by nesako on Sept 1, 2017 8:22:29 GMT
Huddle 100 members, how are you going to declare the Huddle 100 bonus on your next annual tax return? as "other" income? I thought cashback "incentives to invest" are regarded as non-taxable, a form of discount. Might be wrong. Nice one... So "instant returns" also does not count towards your annual interest allowance and any loan sold with a discount is a "loss" which you can offset against your annual interest as well, while any loan sold for a "profit" would be a capital gain?
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SteveT
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Post by SteveT on Sept 1, 2017 9:29:20 GMT
I thought cashback "incentives to invest" are regarded as non-taxable, a form of discount. Might be wrong. Nice one... So "instant returns" also does not count towards your annual interest allowance and any loan sold with a discount is a "loss" which you can offset against your annual interest as well, while any loan sold for a "profit" would be a capital gain? You cannot offset a normal capital "loss" from selling at a discount against your interest income, only against other capital gains you may have in the year. The scope for offsetting "irrecoverable" P2P loans against your P2P interest is different.
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IFISAcava
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Post by IFISAcava on Sept 1, 2017 9:31:53 GMT
I thought cashback "incentives to invest" are regarded as non-taxable, a form of discount. Might be wrong. Nice one... So "instant returns" also does not count towards your annual interest allowance and any loan sold with a discount is a "loss" which you can offset against your annual interest as well, while any loan sold for a "profit" would be a capital gain? This is what ABLrate says on the matter of instant returns: "Instant returns are based on an amount and time period (for more information see here). The opinion we have received is that Instant Returns, because they are not based on a loan closing (we pay them regardless of the loan closing or not), then they are not seen as 'Interest'. To account for these as tax, the opinion is that Instant Return should be treated as 'fee' and counted as a discount to the capital you have purchased. This means that upon the sale of that loan you would be crystallizing a capital gain and it should be reported as such. As an example; On the first day of a loan listing you buy £10,000 of the loan paying 12% p.a on the primary market which has Instant Returns enabled. On closing of that loan (lets assume it is listed for 1 month and closes at the 1 month mark. You would receive £100 in Instant Returns. This means you have bought the loan for £9,900. When you sell the loan (if you sell at 100% on the secondary market, or run it to the end of the term) you will have a gain of £100 on your capital. This would, in the opinion of our accountants, be a capital gain." I am not sure whether selling at at discount is offset against interest or against capital gains, but might depend on platform and how things are accounted for (e.g. on FS everything becomes a capital gain/loss once sold rather than interest).
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IFISAcava
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Post by IFISAcava on Sept 1, 2017 9:35:51 GMT
reply crossed as above - so yes, selling at a discount is different from irrecoverable loss and can't be offset against interest. But on FS, you convert the accrued interest to a capital gain when you sell so you do offset the discount against the converted interest.
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Post by valuehunter on Nov 11, 2017 18:30:46 GMT
Anything in the pipeline huddlecapital? I've got interest burning a hole in my account!
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ding
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Post by ding on Nov 13, 2017 9:29:44 GMT
Thanks Huddle for again processing my withdraw the same day. Though your email notification has been a day later the last two times (my memory only goes back this far).
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Post by huddlecapital on Nov 13, 2017 16:32:30 GMT
Anything in the pipeline huddlecapital ? I've got interest burning a hole in my account! Hi, Apologies that it has been a little quiet of late. I am pleased to confirm that there are a number of investment opportunities in the pipeline that should ready to invest in by the end of this month. Kind Regards Huddle Capital
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kaya
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Post by kaya on Nov 13, 2017 17:01:47 GMT
Is confidence picking up? The secondary market is looking more balanced now.
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Post by huddlecapital on Nov 13, 2017 17:03:33 GMT
Thanks Huddle for again processing my withdraw the same day. Though your email notification has been a day later the last two times (my memory only goes back this far). Hi Thanks for your message, we always try to ensure that withdrawal payments are processed on the date of request, although this may happen the following working day, where a request lands on either a bank holiday or weekend. It is possible that email notifications may be received the day after payment has been made to as the email is generated after the transaction is complete. Kind Regards Huddle Capital
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shimself
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Post by shimself on Dec 4, 2017 12:33:14 GMT
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Dec 4, 2017 12:57:58 GMT
How nice to see an article that has minimal spin aimed to educate to uninformed!😉 I agree shimself, it is a shameless piece of unbalanced spin with little or no warnings that lending via Huddle/ Access is higher risk with an increased probability of losses. I am astounded that the editorial staff allowed this article through.
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stevio
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Post by stevio on Dec 4, 2017 14:24:52 GMT
Also in the magazine, with an full page bright red advert for something like 5% CB for new members Be better if they just interacted here would be a start huddlecapital
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Post by nesako on Dec 4, 2017 14:42:27 GMT
Also in the magazine, with an full page bright red advert for something like 5% CB for new members Be better if they just interacted here would be a start huddlecapital That banner ad seems to be auto generated by Google Ads service based on the page content, so it is not fixed there. The issue is that there are no new loans to invest in though to get that cashback...
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