stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Dec 5, 2016 16:56:45 GMT
ablrate - Few questions: - I presume the leases would be in the name of the SPV? - What happens if the lease defaults? (ie would they be replaced) - What happens if the SPV defaults? (ie would there be step in rights for Ablrate on the leases) - Should the leases need to be taken over, would they be seen to term as the main income from the leases appear to come at the end of term, if not, what value do the leases have if NOT kept till term?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Dec 2, 2016 12:59:30 GMT
There are different eligibility requirements for the 5k 0% Savings Starting Rate band and the new 1k 0% Personal Savings Allowance 5k 0% Savings Starting Rate band = Claim as long as SALARY AND SAVINGS income is below £16,000 (doesn’t take into account Dividends) 1k 0% Personal Savings Allowance = Claim as long as SALARY AND SAVINGS income is below Basic Rate Tax Band (£43,000 16/17) (doesn’t take into account Dividends) With your example James, if your savings and salary are 26k, - you wouldn't receive the 5k 0% Savings Starting Rate band - you would receive the 1k 0% Personal Savings Allowance You could use VCT's to reduce the tax you have incurred, but it wouldn't give you back the 5k 0% Savings Starting Rate band However, should you have income that takes you outside the Basic Rate Tax Band, I wonder if Pension payments that increase the Basic Rate Tax Band, would mean that you would then still be eligible for the 1k 0% Personal Savings Allowance? I am playing round with the calculation in 15/16 tax return at the moment to see the most relief I can receive from VCT's Hi Stevio, my take on the savings starting band rate is different. I think as long as your non savings income is less than 16k you are entitled to it. So if you earn 10k from non savings and 10k from savings income, you will only need to pay tax on 4k (20k - 16k) Please read this website copy and paste: Can you explain the 0% Starting Rate for Savings and the Personal Savings Allowance? Starting Rate for Savings (SR) - On 6 April 2015 the 10% starting rate was abolished and replaced by the 0% starting rate. The rules for signing an R85, the form used to inform a savings provider to pay interest gross also changed. The 0% band for 2015/16 & 2016/17 is £5,000. It is restricted by non- savings taxable income so that none of the band will be available if that income is above their personal allowance (& blind person’s allowance if claimed) plus the £5,000 starting rate. Personal Savings Allowance (PSA) - On 6 April 2016 the Personal Savings Allowance will be introduced, £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. Additional rate tax payers aren’t eligible. The two allowances work together and are dependent on your total taxable income. Interest Paid Gross – From 6 April 2016 savings income will be paid gross (without tax being taken). The R85 will be discontinued. The easiest way to establish if you qualify is to add up your non savings income, if it is below or within your personal allowance plus £5,000 then the Starting Rate for Savings will apply. If this doesn’t cover all of your savings income then apply the Personal Savings Allowance. To determine which rate to use add up all of your taxable income including savings income. If it's £43,000 or less then use £1,000, if between £43,001 and £150,000, use £500. Sorry, how are you saying it differs, that seems to be exactly what I said?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Dec 2, 2016 8:15:55 GMT
How do people work out the return on their VCT's?
There is the offset tax, is this simply just the amount of tax saved divided by 5yrs?
Also the dividends, are these yearly?
I believe their very illiquid, so selling can be difficult without a big discount for the loss of tax relief. I understand some companies buy back the shares, but again at a discount. So I'm guessing you would need to factor the discount to sell into the overall return? Or would the best strategy be to keep them after the 5yrs? If so, how do you work out the return?
Thanks
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Dec 1, 2016 6:12:56 GMT
Well done MoneyThing for topping the poll Well deserved IMHO - keep the good work savingstream ... there are several reasons (JMHO) you slipped to 2nd potion; comms is the main reason... And dragging the rates down Surprised to see AC so high, I have tried a few times to consider investing and never seen anything worthwhile (and plenty with 'issues')
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 30, 2016 18:32:07 GMT
stevio , With regards to HPI docs etc, we can look to add this in the future, also a redacted written statement can also be added. Peter has all ready mentioned that he will invite investors to our office where he can take them to the safety box facility. We will continue to bring quality loans to our platform and look forward to a long relationship with our investors. Many thanks, Gordon collateral - Did Peter get chance to invite local investors into your office and take them to safety box facility?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 30, 2016 18:05:40 GMT
Hi Guys Download should be available this week on your account history. We will be making it more searchable and customisable in the coming weeks, so you can print your own tax statement etc. Pause is now greyed out in SM, but the main feature there is that if you roll over on the tick you can see why it's paused. A similar feature which will have a roll-over to see how much the payment was late by and the reason for it. Current Investments - will make the list longer (or give you the option) More coming.. I'm looking at VCT's this week and trying to work out current interest to date, so excel download much appreciated - just reminding you said this week..........
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 30, 2016 15:20:12 GMT
Thanks, but that tax statement seems to just give me the interest paid for last month or that paid on 01/11/2016 (if I change the dates to 30/10/2016 to 01/11/2016 (from 30/11/2016) the amount remains the same) I see what you mean. There's only been a small number of occasions where my own investment total has significantly changed, so the reported figures have been close. Beyond tracking each loan part with Excel, I don't see how you will be able to get a more precise figure if your totals tend to fluctuate greatly - sorry. No worries, thanks for trying, thought worth asking if there was a quick solution
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 30, 2016 14:52:13 GMT
Sorry, not explained myself well - just looking to guesstimate the interest received tomorrow, so can put myself in negative balance today, which will be covered by the interest Unfortunately, the tax statement doesn't show interest from 1st-30th Nov for me I can just go with 1% of live loan parts, but didn't know if there was an easy more exact way to take into account any sales during the month When you arrive on the Tax Statement page (today), the default start and end dates are 30/10/2016 and 30/11/2016 respectively. Unless you made a huge amount of credits or debits on 30th October 2016, the displayed amount of accrued interest will be v.close to what you will receive tomorrow. Much closer than a guesstimate of your average investment total across the month anyway, unless the figure hasn't changed at all. If you want a figure that is almost to the penny, just work out your average investment for the month and subtract one day's interest from the reported interest figure on the Tax Statement page for the aforementioned default dates. Thanks, but that tax statement seems to just give me the interest paid for last month or that paid on 01/11/2016 (if I change the dates to 30/10/2016 to 01/11/2016 (from 30/11/2016) the amount remains the same)
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 30, 2016 14:13:25 GMT
Hi On the live loans page, it lists interest. This number far exceeds the 1% of live loans I was expecting. Is this the best number to use for expected interest at the end of the month or best to use 1% (on average) of live loans? Thanks There is no Interest column on the Live Loans tab. Possibly you mean the Live Loanparts tab under My Loans? If so, the figure represents the total accrued interest from the time you have owned the loan part(s) to date, which isn't useful for working out periodic interest, whether daily, weekly, monthly, annually. If you go to My Account and click the Tax Statement tab you can set the start and end dates and it will report interest earned for the specified period. Sorry, not explained myself well - just looking to guesstimate the interest received tomorrow, so can put myself in negative balance today, which will be covered by the interest Unfortunately, the tax statement doesn't show interest from 1st-30th Nov for me I can just go with 1% of live loan parts, but didn't know if there was an easy more exact way to take into account any sales during the month
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 30, 2016 13:22:42 GMT
Hi
On the live loans page, it lists interest. This number far exceeds the 1% of live loans I was expecting. Is this the best number to use for expected interest at the end of the month or best to use 1% (on average) of live loans?
Thanks
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 29, 2016 22:59:46 GMT
Yes, discussed in other threads
You would need to compare current personal tax situation to see if any benefit
Ltd would need accounts and other tax admin, unless doing all yourself, ned factor in costs
Review exit plan - ER, salary, dividends, IHT, CGT, share holders etc
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 29, 2016 22:46:18 GMT
MoneyThing Could you kindly clarify some of the points made on the Guardian article please: - 5 outstanding mortgages on the ground - correct? Where do MT loans stand in this? -creditors chasing debts have led to CCJs? -how will the building of the new ground be paid for? Evening stevio, 1) As part of of our agreed funding, there was an undertaking for these to be removed which should be reflected shortly. 2) Correct. 3) Once the option agreement has been secured for the new site, planning will be obtained and then the project will be funded by another lender. Just a note to say that we will be making an announcement on this loan within the next few days. Kind regards, Ed 7 minute response time, is that a record Ed? - can take other platforms 7 days to reply if at all! Take notes savingstream ablrate fundingsecure !!!
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 29, 2016 22:41:48 GMT
collateral do you have any comparators or links we could compare the prices too - please help us to see how the valuation was made?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 29, 2016 22:33:17 GMT
MoneyThingCould you kindly clarify some of the points made on the Guardian article please: - 5 outstanding mortgages on the ground - correct? Where do MT loans stand in this? -creditors chasing debts have led to CCJs? -how will the building of the new ground be paid for?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 26, 2016 21:44:28 GMT
"we have at least 2 buyers ready in the wings"
Another of SS's deleted updates.
Here are recent updates which SS has now decided we don't need to see remember.
11/11 Investment funds still expected soon; however we have encouraged the borrower to market the property for sale on an accelerated basis. 24/10 Due to delays with the purchaser, we have asked the borrower to seek bridging finance elsewhere. The broker estimates mid November, otherwise we have at least 2 buyers ready in the wings.
Here is one which we are allowed to see: 29/4 "Expecting repayment within the next month. Part sale of business site agreed with enough to clear our finance".
What a good job investors here record everything P2P platforms say, especially SS. p2pindependentforum.com/thread/2635/savingstream-loans-updates-useful-links?page=1 Maybe Lendy properties limited is buying them all..... Hope they haven't been getting advice from the Somerset guy on how buy properties 😉
|
|