amphoria
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Post by amphoria on Oct 9, 2016 18:26:35 GMT
22.0 ' £1,000,000 per square metre ' ... I'm in Yes, we did notice that. Even Sandbanks isn't quite there yet... In context, it's clear that the valuer intended £1,000 per square metre, so we decided against asking for a full rewrite of the valuation. It would have to be £1,000 per square foot to get to the £5,000,000 valuation for the completed house. Did he get the units wrong also?
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amphoria
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Post by amphoria on Sept 30, 2016 17:00:01 GMT
In my account there are issues with this again. I am allocated 20 GBP loan parts (=2%) while the setting is currently 1%. I contacted BM for comment. Minor hassle but still curious how this happens. Have you had any interest payments (actual not accrued)? Bondmason rounds up to the nearest £10 when calculating investments amounts, so 1% of £1000.10 becomes £20.
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amphoria
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Post by amphoria on Sept 28, 2016 13:56:03 GMT
Just out of interest, if you hold a debenture over the company why go to the bother of a charge over the grouped assets? This seems like a lot of admin, especially if the borrower can substitute items. Personally I treat these types of loans (on other platforms) as simply a loan to the borrower's working capital secured against the business, rather than against the basket of assets. If you think there is more security in the assets then it does not seem to say much for your opinion of the prospects for the business. It is my understanding that they are taking a fixed charge over the assets rather than a floating charge. With a fixed charge the borrower cannot sell the assets without getting approval from Collateral, although they appear to have agreed some kind of swap out arrangement. There are other advantages to a fixed charge in terms of priorities in the event of default which are summarised nicely in this article: www.hewitsons.com/content/what-bank-debenture
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amphoria
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Post by amphoria on Sept 28, 2016 13:38:23 GMT
I currently invest in P2P and am likely to earn about £14k from P2P after losses this tax year. OK simple so far I can earn £17k(11+5+1) without paying tax. From later this year I will be a company director of a new LTD company and will be earning dividends, the question is what tax would I pay if I earned £4k of dividends(likely first year) and what tax would I pay if I earned £12K of dividends, when I self asses. Please link me to the relevant info & site, as I know noone can give tax advice, anything posted, I realise is for information purposes only. Thanks in advance. Just for info, there will be 2 directors with equal shareholding. I'm thinking the £5k low income savings tax allowance is affected, as my income will rise with the dividends I have got as far as the tax on dividends of £12k is £712.50(sharing the dividend allowance), but i'm confused as to how that dividend affects the £5K savings allowance, as my income is higher. I am in a very similar position this tax year as my income is almost entirely made up of bank interest, P2P interest and dividend income. After a lot of research, I currently believe that dividend income does not count as non-savings income nor savings income. Thus dividend income does not reduce the Starting Rate for Savings, but also cannot be set off against the Starting Rate. Unfortunately I have not been able to find any examples that conclusively back me up either in the HMRC Savings and Investment Income Manual or elsewhere. The only evidence that supports my view is the 2016/17 What If Planner from Taxcalc. The following is a slightly contrived example taken from the What If Planner, illustrating that the £5,000 Starting Rate for Savings is available to offset interest (including P2P interest), with the only tax payable on the dividend income. Income received (before tax taken off) Pay from all employments 8,789.00 Interest received from UK banks and building societies 8,053.00 Dividends from UK companies 13,703.00 Total income received 30,545.00 minus Personal Allowance (11,000.00) Total income on which tax is due 19,545.00 Interest received from a bank or building society etc. 5,000.00 x 0% = 0 842.00 x 0% = 0 Dividends from companies etc. 5,000.00 x 0% = 0 8,703.00 x 7.5% = 652.72 Total income on which tax has been charged 19,545.00 Income Tax due 652.72
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amphoria
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Post by amphoria on Sept 23, 2016 15:12:00 GMT
I understand, but regret that BM isn't going to reveal it's partners but the opaque aspect that's really killing me at the moment is the complete lack of any audit trail or history. Suppose I logged in today and I was £1000 down from what I thought I was yesterday - how would I be able to find out why? All I have is a snapshot in time, a current balance. There's no statement, no report I can run to find out what's happened. It also means I cannot perform simple calculations to provide XIRR or monthly income for example. It's beyond my understanding why this is not yet available. And I'm afraid there are still awkward un-answered questions on this thread like conflicts of interest resolutions or what the three lawyer firms were asked to check for. I also have a test chunk of cash on BM but until more is provided, it's going to be difficult to increase. In case you haven't found this out already, you can copy and paste the tables from Your Investments a page-at-a-time into Excel, which would enable you to do some reporting and calculations. The symbols don't get carried across, but the key data does including interest and principal repaid for each loan. Repaid loans are also not removed from the list which is useful.
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amphoria
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Post by amphoria on Sept 22, 2016 19:44:38 GMT
On a similar theme, when the new algorithm was introduced back in August, I am pretty sure that a message popped up on the screen implying that diversification would be automated down as low as 0.5%. As there is not a manual option for 0.5%, do you intend to implement this feature automatically or manually? This is implemented automatically. So when does it kick in as I am still getting 1% allocated to most loans (actually 1.2% due to the rounding up to nearest £10).
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amphoria
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Post by amphoria on Sept 21, 2016 15:35:58 GMT
On a similar theme, when the new algorithm was introduced back in August, I am pretty sure that a message popped up on the screen implying that diversification would be automated down as low as 0.5%. As there is not a manual option for 0.5%, do you intend to implement this feature automatically or manually?
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amphoria
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Post by amphoria on Sept 20, 2016 16:44:01 GMT
propman wrote: Given that this was as at 31 March, mit would be good to get an update on what has happenned to it since and whether this has remained the only instance. The statement was in the Future Developments section so happened since 31st March.
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amphoria
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Post by amphoria on Sept 3, 2016 16:29:25 GMT
I ended up contacting Customer Services for an answer to this one, but don't appear to have kept their instructions. From memory, you have to go into the Manage screen and change Lend New Money from Plus to Classic. The missing button will then appear under Classic and you can withdraw the money. Go into Manage again, change Lend New Money to Plus, and the withdrawn money will automatically go into your Plus account.
Not terribly obvious!
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amphoria
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Post by amphoria on Apr 12, 2016 8:10:35 GMT
Having done a transactions download using Account History and extracted all of the interest payments, I have discovered that the interest due on a Extra payment does not appear to be included in the Tax Statement. This was a 5 year loan that was repaid in full 2 months and 8 days after being taken out. The interest due over the 8 days has a Type of Repaid loan interest in the Account History rather than Interest. In my case it only comes to 5p and therefore makes no difference to my tax return, but it could be significant for others.
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