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Post by ablrate on Jan 21, 2019 13:57:28 GMT
ablrate - By my layman's reading of the rules relating to what may be eligible for EIS (and I paraphrase): the money raised by the new share issue must be used for a 'qualifying business activity'. Certain 'trades' are excluded. A trade is not a qualifying trade if it consists, at any time in the relevant period, of certain activities. The list of non-qualifying trades includes banking, insurance, money-lending, debt-factoring, hire-purchase financing or other financial activities (VCM 3040; ITA07/S192(1)(c); ITA07/S303(1)(c) ). The ‘other’ financial activities that are excluded are activities comparable with those listed - in particular, ones involving the lending of money or the bearing of the customer’s financial risk. I'm quite sure you have taken reliable legal advice, and I am certainly no expert. But surely Ablrate's main business involves the lending of money? Happy to be shot down by Ablrate or anyone more knowledgeable than I am, as I'd like to participate in the share offering. Hi boundah - it's a very fair question - we went through this at the very beginning (we raised SEIS/EIS in the early days and have issued EIS certs already) . As ilmoro says, we don't lend money, we are a technology platform and HMRC accepted that.
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Post by ablrate on Jan 21, 2019 13:59:01 GMT
If you wait much longer it'll be all sold out. 8>. From your keyboard to God's ears.
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Post by GSV3MIaC on Jan 21, 2019 14:07:54 GMT
If you wait much longer it'll be all sold out. 8>. From your keyboard to God's ears.
I got my bid in before mentioning it. Btw, you owe me some money (only 1.5% of 'not very much' though). 8>.
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Post by ablrate on Jan 21, 2019 14:31:57 GMT
From your keyboard to God's ears.
I got my bid in before mentioning it. Btw, you owe me some money (only 1.5% of 'not very much' though). 8>. lol... be happy to pay it.
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Post by GSV3MIaC on Jan 23, 2019 15:03:14 GMT
An update from Crowdcube, which I assume I can echo here ( ablrate ?) if nobody already did ..
" Firstly, I would to thank those who have invested so far.
We are getting ready to launch a number of new initiatives. Our new Portfolio Loan product is moving nicely with £135,000 invested so far in the 8% IFISA eligible secured loan. This product will form the basis of a number of new loans coming to the platform with over £10 million in capacity.
We are almost ready to launch our Auto Invest functionality. This will be a 'fire and forget' system which can be used to build a number of strategies in different loan sectors (property, capital equipment etc) or you can just press a button for an auto diversification strategy which invests you across all available loans, including Portfolio Loans.
We are also working on a new underwriting system. We have always had the ability to have underwriters on the platform. These are lenders who will commit to filling loans for a fee, much the same as underwriters in share issues work. It smooths the process for originating and issuing loans.
Until now we have under utilised the underwriting functionality, but as we scale up we have now created a new partnership product which will reward those who qualify to join the underwriting program.
We will update you further as these are launched.
Again, thanks for your interest in Ablrate "
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Post by ablrate on Jan 23, 2019 15:10:49 GMT
No worries, yes we are preparing an update on a few points and will be providing more information to customers than was posted on CC
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Post by Ace on Jan 23, 2019 15:36:45 GMT
No worries, yes we are preparing an update on a few points and will be providing more information to customers than was posted on CC Any chance the updates might include a few pubs?
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Post by ablrate on Jan 23, 2019 16:11:37 GMT
Yep - we believe we will be able to give news this week
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Post by GSV3MIaC on Apr 24, 2019 6:22:54 GMT
ablrate, Since Crowdcube now have the cash, (do you?) any idea when the bonus will show up in investor accounts?
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Post by ablrate on Apr 24, 2019 14:49:25 GMT
ablrate , Since Crowdcube now have the cash, (do you?) any idea when the bonus will show up in investor accounts? We have done the various bit of final legals, so we will be making the bonus payments this week
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Post by oktaeder on May 1, 2019 7:11:37 GMT
#push
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Post by ablrate on May 1, 2019 16:26:25 GMT
Sorry about the delay - its all ready to go and you should start seeing the bonuses occur in your accounts if eligible. Thanks again for you support!
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Post by Ace on May 9, 2019 8:30:40 GMT
Sorry about the delay - its all ready to go and you should start seeing the bonuses occur in your accounts if eligible. Thanks again for you support! In case anyone didn't notice, the bonus has been paid, at least mine has (thanks ABLrate); received on 3/5/2019. I didn't seem to receive any notification. Does anyone know whether there are any restrictions on whether the bonus can be withdrawn? It's not that I don't want to invest in ABLrate loans, I've already added to my ABLrate ISA this year, I just don't want cash lying astound on the non-ISA side. I'm trying to minimise non-ISA investments to simplify my tax position.
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hantsowl
Member of DD Central
Posts: 671
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Post by hantsowl on May 9, 2019 12:44:37 GMT
Sorry about the delay - its all ready to go and you should start seeing the bonuses occur in your accounts if eligible. Thanks again for you support! In case anyone didn't notice, the bonus has been paid, at least mine has (thanks ABLrate); received on 3/5/2019. I didn't seem to receive any notification. Does anyone know whether there are any restrictions on whether the bonus can be withdrawn? It's not that I don't want to invest in ABLrate loans, I've already added to my ABLrate ISA this year, I just don't want cash lying astound on the non-ISA side. I'm trying to minimise non-ISA investments to simplify my tax position. No restrictions that I am aware of. My bonus has been withdrawn and is sitting in my bank account.
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Post by GSV3MIaC on May 9, 2019 15:59:03 GMT
Mine too. No restriction, it's just regular money ..
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