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Post by Duane Dibley on Jul 12, 2019 19:36:19 GMT
Holding update now on platform. A few months ago I would just have taken the promise from MT of a FULL update NEXT week for what it says. But............................ let's see, shall we. This is it Ladies and Gentlemen. This is it!! MoneyThing steps slowly forward. Places the can on the tee. Steps back. Deep breath. Steps forward again. Adjusts the can. Steps back. Another step back. Looks at the can. Looks down the road. Can. Road. Can. Road. Takes a deep breath. In. Out. In. Hold. Slowly out. Focus. Looks at the can. Looks down the road. Relaxes the shoulders. Deep breath. Looks at the can. Looks down the road. A small step to the side. A bigger step to the side. Deep breath. Can. Road. Can. Road. A jiggle on the toes. MoneyThing strides forward. And we're off .......
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Assetz Capital (AC)
IFISA
May 29, 2019 11:59:51 GMT
via mobile
Post by Duane Dibley on May 29, 2019 11:59:51 GMT
Does anyone know whether the AC ISA is a flexible ISA or not, so I can withdraw funds from the ISA and then redeposit to take advantage of the next bonus offer?
I can't see anything in the t&c's, mainly because I can't see any t&c's, only the rather enigmatic question, 'How do flexible ISAs work?', all interesting stuff like but doesn't actually say whether the ISA is flexible or not.
Anyone with any experience of flexibilitating?
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Post by Duane Dibley on Apr 9, 2019 20:22:19 GMT
The problem with not claiming relief on losses when they first become available is that you might not have sufficient interest in future years to offset them against.
Over the last couple of years I've been moving most of my P2P funds into ISA 'black box' accounts and will continue to do so over the forseeable future, so reducing my taxable P2P interest and and making any future declared tax relief unuseable.
Therefore until the rules are tightened and guidance more specific I'll be interpreting it in my best interest and claiming tax relief as and when it suits me, not when it suits the taxman and certainly not when it suits the likes of Lendy.
While I agree that it's always best to use the figures supplied by the platform, I haven't always done so, sometimes I've declared losses that the platforms haven't and sometimes I haven't when the platforms have, but as long as you keep records and can justify why you've taken a particular course of action I can't foresee a problem.
HMRC have bigger fish to fry and more obvious tax dodging to concentrate on rather than unraveling the intricacies of Lendy's P2P loan wreckage.
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General P2x Discussion
Ethex
Mar 23, 2019 17:53:08 GMT
via mobile
Post by Duane Dibley on Mar 23, 2019 17:53:08 GMT
Ethex never seems to get much of a mention on this board but if anyone was thinking of investing in the latest offer, just a reminder that it closes tomorrow. www.ethex.org.uk/ART2019Minimum five year term. No security. Pays no interest. What's not to like?
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Post by Duane Dibley on Mar 7, 2019 20:24:44 GMT
The fact that the energy is generated from the removal of tyres from the ecosystem (a big issue: ecogreenequipment.com/how-do-old-discarded-tires-affect-the-environment/) is a big plus It burns electricity generated from getting rid of tyres, "The interesting part is that all of our energy is created from waste. Our main product comes from used tyres! We use a pretty nifty process called pyrolysis to break down waste into an oil. We then use a clever mix of technologies to refine this oil into fuel feedstocks. Our fuel is then used in a mixture of generators or turbines to create electricity... The really great thing is that we do all this with really low emissions - in fact hardly any." And if that's all that the proposal was then it would be reminiscent of Abundance or Triodos and I'd be piling in. But 'mining' for bitcoins? Really? So all together now, The King is in the altogether, but all together, the altogether, he's altogether as naked as the day that he was born!
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Post by Duane Dibley on Jan 10, 2019 21:43:13 GMT
Is there any reason why current transfers from Classic account to ISA account are showing as counting towards the 2019/20 ISA subscription? Does Lending Works ISA year not run from April to April the same as other ISA providers? Hi Duane DibleyAlways 6 April to 5 April. Where have you seen 2019/20 being stated? This must be an error. Thanks Ok thanks Matthew, I just wanted to check. It's the Transfer from Classic account to ISA account page that is showing the subscriptions so far as 2019/20 and the check box confirming that the transfer will count towards the 2019/20 ISA subscription.
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Post by Duane Dibley on Jan 10, 2019 21:10:55 GMT
Is there any reason why current transfers from Classic account to ISA account are showing as counting towards the 2019/20 ISA subscription?
Does Lending Works ISA year not run from April to April the same as other ISA providers?
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Post by Duane Dibley on Dec 7, 2018 17:31:48 GMT
At least Ablrate are doing something, and something is surely better than nothing.
I much prefer a platform to be proactive in their loans even if it means such changes to the interest rate or payment terms.
Better that than just letting the loan default, accepting the borrower's promises of the cheque's in the post, posting trite and meaningless updates and just generally hoofing the can as far down the road as they can whilst constantly telling anyone who'll listen that nobody has lost a penny on their platform.
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Post by Duane Dibley on Nov 24, 2018 10:32:25 GMT
I am also sick of people getting into petty arguments. Sadly it just seems rather indicative of the state of P2P. When everything was rosy in the P2P garden the forum was a rather pleasant environment with plenty of good advice and a sharing of information for the common good. Now it just seems really quite fractious and argumentative, with everyone on edge over their own potential losses and trying to gain the smallest edge over others. Maybe there's a law somewhere stating the number of arguments on the forum is directly proportional to the number of defaults on the platforms. And with people like yourself, previously staunch supporters of the industry and various platforms, now talking of getting out entirely, I do wonder whether P2P is, if not on it's deathbed, in serious need of major life-saving surgery just to keep a pulse going.
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Post by Duane Dibley on Nov 8, 2018 22:59:36 GMT
I would, but for various financial planning reasons I'd rather have taxable interest in 17-18 than a later tax year. So I am estimating and will claim relief as and when final figures are known. FWIW I would treat COL income and losses as normal P2P income and let HMRC challenge if they feel like it - the technical small print being discussed here seems beyond me and most reasonable taxpayers investing in what they were told by the FCA was normal P2P. FCA got us into this mess. BDO should tell us our tax figures for last year and eventually for this year (*) and explain how they should be categorised on our tax returns. * Possibly next year too at the current rate of progress. I presume that if they're not telling us then they're also not telling the taxman. So when they do, when I get something definitive in writing as to what's been paid in interest, what's deductable as losses and what's been declared to the taxman, that's when I'll include it in my tax return, not before and certainly not based on the musings of anonymous posters on internet forums.
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Post by Duane Dibley on Nov 5, 2018 17:26:31 GMT
I'm just curious to see where it goes. Although it is nice to see one cross the line successfully. Cash just OUT, OUT, OUT, I suspect.
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Post by Duane Dibley on Nov 4, 2018 10:01:55 GMT
That said, when platforms allow premiums I take advanatge of them as a seller to rip off the unwary buyers. Now you might think that's fine and ethical, that's not for me to say, but what I can say is that it's not sustainable, eventually you'll just run out of other investors to 'rip off' like that. It's abundantly clear which way this thread is going. We've already had two or three posters admitting how they've used secondary markets along with additional information to profiteer at the expense of other investors, and I'm sure there are plenty of others out there who do the same but are just not so open about it. I'm certainly not surprised though, when this forum was first set up it was as a means of sharing due diligence and the pooling of information for the mutual benefit of the whole investing community. I see precious little of that now, and instead just another social-media platform for the voicing of opinion and people seeking to gain advantage over others. But personally that's not why I started investing in P2P, that was to provide capital to people or companies who needed it and receive in return a good rate of return, and doing so by investing at the start of the loan and then at the end of the loan, whether it be 6 months or 12 months or 5 years, getting (hopefully) my capital back together with the interest on it, not by speculating or trading at the expense of others. And if the loan defaults, and they have, including the first 100% loss, well I'd take that on the chin and move on to the next one, not bleat about it on forums like this, or try to pass that loss off on to other less-suspecting people. Then at the end of the day when all the reckonings been done, either my gains exceed my losses, and if it's by more than I'd have received in a high street savings account then I'll be happy. Or else my losses will exceed my gains, in which case I'll put it down to one of life's lessons learned and move on. But either way I'll be able to sleep at night. So if other people want to use secondary markets in conjunction with other sources of information to profiteer at other peoples expense, well that's up to them, after all as long as it's not insider trading then it's still legal, but they shouldn't expect other investors to simply stand by and watch or for the platforms to have to change their structure just to accommodate them and their methods. And if that makes me a socialist or some kind of cardigan-wearing anti-capitalist liberal, well hey I've been called worse.
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Post by Duane Dibley on Nov 3, 2018 13:36:37 GMT
Yes for sure...but I think the people who would potentially reduce their investments are most certainly smaller investors (maybe putting £50 in a loan) who struggle to understand a fully functioning market. BH's on the other hand (putting 5, 6 figure balances in a loan) I would really be amazed if any withdrew from platform because the SM was unclogged and functioned like a true market. Could there be a more shameless attempt at swaying the vote, or at least Moneything's decision !!!!! "I know a lot of people, who have lots of money who may bring it onto the platform if you vote this through." Yeah but no but my Dad's bigger than your Dad. So there.
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Post by Duane Dibley on Nov 2, 2018 20:24:59 GMT
Whilst the tech team are just fixing the system error, I just wanted to say a personal thank you for all those that have posted on this thread (and sent us emails or called us), providing useful & valuable feedback on this topic. And what I would say in return Ed is by all means read and take note of what is posted on this thread, but please be aware that not all of what is written is necessarily representative of all members of this forum or indeed of MoneyThing lenders. In my experience of life those who shout the loudest have the least to say.
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Post by Duane Dibley on Nov 2, 2018 13:06:26 GMT
Fast becoming my favourite platform.
Good clean rates, without any of those annoying summer specials or Christmas bonuses, (are you listening Assetz Capital?), just consistently high returns.
And with good customer service (are you still listening Assetz Capital?), and backing from the likes of NVM and Maven, it's no surprise that more of my money is making the short leap to Lending Works.
Keep it up.
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