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Post by elephantrosie on Jun 24, 2017 10:29:25 GMT
is it only when the loan is 100% filled?
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SteveT
Member of DD Central
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Post by SteveT on Jun 24, 2017 10:53:12 GMT
is it only when the loan is 100% filled? No, from the day you bid.
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elliotn
Member of DD Central
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Post by elliotn on Jun 24, 2017 12:32:04 GMT
is it only when the loan is 100% filled? Just taking latest available Loan Details: "interest is payable from the date your funds are allocated to the loan".
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muh3
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Post by muh3 on Jun 24, 2017 20:25:39 GMT
From their website.
5. What returns can I expect?
Once you commit to invest in a project you will begin earning up to 14% annual interest on your capital immediately. Interest is credited to your account at the beginning of each month.
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Post by Collateral Rep on Jun 25, 2017 15:41:57 GMT
Evening,
Yes, you start to earn interest as soon as you invest in a loan.
Many thanks,
Gordon
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Post by akihisafumihiro on Jun 26, 2017 19:54:30 GMT
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nick
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Post by nick on Jan 30, 2018 12:32:05 GMT
Is interest still paid on bids on loans that fail to complete/draw-down (eg for loans that fail to get filled or are pulled for whatever other reason)?
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ingwer
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Post by ingwer on Jan 30, 2018 13:03:29 GMT
It has been before and quite recently e.g. BL00078-1 - Development Site at H********* R**d, B****burn.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
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Post by stub8535 on Feb 2, 2018 15:19:24 GMT
Looks to have been changed thegrumbler. I have just let them know about the awful wording on the show listing mentioned in another post to do with risk.
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markb
Member of DD Central
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Post by markb on Feb 5, 2018 18:34:58 GMT
Evening, Yes, you start to earn interest as soon as you invest in a loan. Many thanks, Gordon I understand that this payment to lenders is calculated in the same way as interest, but do HMRC definitely treat it as interest? If a loan hasn't been drawn down, it seems obvious that the borrower is not paying interest on the loan - especially in the recent cases where the loan listing was withdrawn without being filled. However, I assume that Collateral aren't paying interest either - because, for example, AC were at pains to point out that P2P platforms don't have regulatory permissions to be deposit takers and can't pay interest (hence them deploying their cunning QAA model instead). My understanding was that this payment is an inducement to invest, paid by Collateral, to encourage early investment. ABL have an excellent FAQ on the subject, describing how they and their accountant think that it applies to their lenders (see the 'Instant Returns' section of 'What Is The Tax Position?' (www.ablrate.com/faq/what-is-the-tax-position/), which indicates that they consider it to be a capital gain rather than interest. I'm aware that different professionals can have different opinions about the same situation. Is that what's happening here, or is there actually something legally different about ABL's 'Instant Returns' versus Collateral's pre-drawdown 'interest' payments? Collateral Rep , please can you clarify?
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GeorgeT
Member of DD Central
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Post by GeorgeT on Feb 5, 2018 19:03:55 GMT
Evening, Yes, you start to earn interest as soon as you invest in a loan. Many thanks, Gordon I understand that this payment to lenders is calculated in the same way as interest, but do HMRC definitely treat it as interest? If a loan hasn't been drawn down, it seems obvious that the borrower is not paying interest on the loan - especially in the recent cases where the loan listing was withdrawn without being filled. However, I assume that Collateral aren't paying interest either - because, for example, AC were at pains to point out that P2P platforms don't have regulatory permissions to be deposit takers and can't pay interest (hence them deploying their cunning QAA model instead). My understanding was that this payment is an inducement to invest, paid by Collateral, to encourage early investment. ABL have an excellent FAQ on the subject, describing how they and their accountant think that it applies to their lenders (see the 'Instant Returns' section of 'What Is The Tax Position?' (www.ablrate.com/faq/what-is-the-tax-position/), which indicates that they consider it to be a capital gain rather than interest. I'm aware that different professionals can have different opinions about the same situation. Is that what's happening here, or is there actually something legally different about ABL's 'Instant Returns' versus Collateral's pre-drawdown 'interest' payments? Collateral Rep , please can you clarify? Life is complicated enough without trying to complicate it even more. Just call it interest, after all that's what the platform calls it.
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empirica
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Post by empirica on Feb 7, 2018 11:57:04 GMT
I don't think markb is trying to complicate things. It's more a question of understanding the tax implications, especially if the platform report it as one thing to HMRC and the tax-payer report it as something else.
Isn't the role of a philosopher to garner greater understanding through thoughtful reflection, rather than to just gloss over something that may look a little tricky to comprehend.
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