gt94sss2
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Post by gt94sss2 on Mar 3, 2015 16:11:45 GMT
Apologies, if I am coming to this late in the day but I have a real dislike of nominee accounts but am new to this sort of early funding. Can I ask what level you would consider as a direct investor (>£5k=10K?) and how much paperwork is involved for an investor though I appreciate you don't want too many directly investing! - I only ask as, while a UK resident, am currently overseas and it may take a few days if stuff has to be posted back physically.. It was mentioned, possibly earlier in the thread or on the seedrs Q&A, that £25k was the min to be a direct investor. In the message I was responding too, Stuart seemed to suggest that their might be some (limited) flexibility on this..
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gt94sss2
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Posts: 281
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Post by gt94sss2 on Mar 3, 2015 15:05:25 GMT
Hi Direct Investor status is only really intended for larger investors who know us (mainly our lenders and few business partners) over £25k as its separate legal paperwork for each one rather than the Seedrs nominee account being set up with just one agreement for everyone. If it was a bit less and people were happy with doing their own paperwork directly with us then just talk to us (Mark Wardrop) if you haven't invested yet. its definitely not economic if its £5k or less as that's what the Nominee account is for - hundreds of people under one agreement and paying seedrs to do everything. We arent a PLC (yet) so don't want to have to manage a large direct shareholder base and its communications workload ourselves but a handful of larger investors no problem. its take a while to get the structure and reasoning clear and I apologise ! Apologies, if I am coming to this late in the day but I have a real dislike of nominee accounts but am new to this sort of early funding. Can I ask what level you would consider as a direct investor (>£5k=10K?) and how much paperwork is involved for an investor though I appreciate you don't want too many directly investing! - I only ask as, while a UK resident, am currently overseas and it may take a few days if stuff has to be posted back physically..
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gt94sss2
Member of DD Central
Posts: 281
Likes: 137
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Post by gt94sss2 on Jan 27, 2015 14:30:47 GMT
Well after posting my first 10 transactions on my account which took place on the first day (14 Jan) - I am now upto 1240 transactions within 3 days - and my uninvested amount keeps changing up/down- currently £1.66 but it has been higher - I've seen £5 (5% uninvested) I believe. So if anyone is keeping track of my experiences. On 17 Jan, I increased my investment from £100 to £1000. Since then the level uninvested has gone up and down (i've seen £150 to £5) - currently £14.50. However, I am now up to 2360 entries over 48 pages so have no idea of how much of what I actually own...!
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gt94sss2
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Posts: 281
Likes: 137
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Post by gt94sss2 on Jan 20, 2015 12:17:03 GMT
I guess what I am asking is that if you have a negative figure overall on the tax statement I.e. Due to a minus entry next to the Net Microloan Sales Gains entry - what/where do you enter on a self assessment form?
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gt94sss2
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Posts: 281
Likes: 137
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Post by gt94sss2 on Jan 17, 2015 4:57:37 GMT
I was just wondering if the Microloan Gain/Loss if you buy/sell microloans needs to be declared on a self assessment form?
If so, could someone let me know where? (definitely a loss in my case!)
Thanks
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gt94sss2
Member of DD Central
Posts: 281
Likes: 137
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Post by gt94sss2 on Jan 17, 2015 4:25:03 GMT
It looks like the investment algorithm has been improved, to now buy up 20% of the investment, and then remaining balance is used up 50% of remaining balance at a time on each loan in turn, at a guess until the balance would be less than £1. That's certainly better the original algorithm. Well after posting my first 10 transactions on my account which took place on the first day (14 Jan) - I am now upto 1240 transactions within 3 days - and my uninvested amount keeps changing up/down- currently £1.66 but it has been higher - I've seen £5 (5% uninvested) I believe. Most oddly, I have what 100's of transactions where the system is buying a loan and then selling the same amount from the same loan immediately... A sample: I'd actually like to invest more in the account/platform but this behaviour doesn't exactly fill one with confidence. On the positive side, I seem to have picked up 1p interest somewhere - as someone else has said AC need to display a summary table showing our total holdings in each GEIA account - and for the statement summaries an option to only display certain types of transaction would also be very useful
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gt94sss2
Member of DD Central
Posts: 281
Likes: 137
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Post by gt94sss2 on Jan 14, 2015 16:18:40 GMT
I'm new here - reading for a while and think this is my first post! I too noticed this and thought it odd. There was lender money available at 4.3, 4.4 and 4.5%, the total of which exceeded the the amount a borrower had requested at 4.5%. It occured to me at the time that it was odd that the money hadn't been matched. I'm new here and to RS as well - and glad someone asked this as well. I had the same experience as you in matching that large order. I still don't really understand why the funds already on the market weren't matched - mist reread this thread! Would also be interested in knowing more about the comments I have seen about ''My rate' not working as one would expect'
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gt94sss2
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Posts: 281
Likes: 137
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Post by gt94sss2 on Jan 14, 2015 16:10:16 GMT
I have just joined Assetz Capital and subscribed £100 to the GEIA as a test as the concept of a provision fund appeals to me despite the lower interest rate.
However, I really don't understand the way the site has purchased by units. Of the £100, I have £1.25 uninvested.
Of the sums invested:
I can understand the first 4 transactions for £20 each, but am not sure why the other 4 for £10, £5, £2.50 and £1.25 each took place or why I have £1.25 uninvested.
Surely they should either invest £25 in 4 firms (or £20 if trying for 5 firms)?
Looking at the available units the manual site have Pxxxxxxxx WT units (#145) available but they are not being purchased?
Also, if anyone is reading this from AC could it be possible to allow users to control the amount of time on the site before being forced to login again.
Thanks
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