cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on Apr 9, 2019 14:32:55 GMT
Question, when are the interest paid? Is it monthly? Or by 2024?
|
|
|
Post by funkymonkey on Apr 9, 2019 15:06:31 GMT
Says monthly in the loan details. What makes you think it would be when the loan is repaid?
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on Apr 9, 2019 16:04:41 GMT
Says monthly in the loan details. What makes you think it would be when the loan is repaid? Dunno couldn't find it immediately
|
|
|
Post by Badly Drawn Stickman on Apr 9, 2019 18:30:20 GMT
Says monthly in the loan details. What makes you think it would be when the loan is repaid? Dunno couldn't find it immediately Given the loan is a month old, I would have expected an interest payment today. Will get confusing otherwise.
|
|
sarahcount
Member of DD Central
Posts: 359
Likes: 815
|
Post by sarahcount on Apr 9, 2019 19:02:54 GMT
It's that very British thing. See a queue and join it.
|
|
rogerbu
Member of DD Central
Posts: 398
Likes: 213
|
Post by rogerbu on Apr 10, 2019 12:28:05 GMT
Cashback for IFISA holdings is being paid into Standard Accounts.
I queried this and received. "Cashback payments are treated as payments of interest for tax purposes or they fall under ITA Part 10A finance returns, so they have to be paid outside of the ISA or they would count towards the annual ISA subscription limit.
The regulation referring to ITA Part 10A finance returns is a relatively new regulation introduced at the same time as the introduction of innovative finance ISAs in April 2016. For that reason, and because there has been no previous guidance from HMRC on these payment types, we have been advised that Cash-back payments should be paid outside the IFSA."
|
|
archie
Posts: 1,836
Likes: 1,841
|
Post by archie on Apr 10, 2019 13:23:26 GMT
Cashback for IFISA holdings is being paid into Standard Accounts. I queried this and received. "Cashback payments are treated as payments of interest for tax purposes or they fall under ITA Part 10A finance returns, so they have to be paid outside of the ISA or they would count towards the annual ISA subscription limit.
The regulation referring to ITA Part 10A finance returns is a relatively new regulation introduced at the same time as the introduction of innovative finance ISAs in April 2016. For that reason, and because there has been no previous guidance from HMRC on these payment types, we have been advised that Cash-back payments should be paid outside the IFISA."Cashback should be tax free anyway as it's an incentive to buy. I can see that it probably should be paid outside of the IFISA.
|
|
amwinv
Member of DD Central
Posts: 198
Likes: 282
|
Post by amwinv on Apr 17, 2019 0:02:55 GMT
Aren't we well overdue the first month's interest by now?
Loan started - 8/3. Drawdown and cashback paid - 9/4.
Its the 17th now. There's like a month and a half interest accrued?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,788
Likes: 11,007
|
Post by ilmoro on Apr 17, 2019 0:29:31 GMT
Aren't we well overdue the first month's interest by now? Loan started - 8/3. Drawdown and cashback paid - 9/4. Its the 17th now. There's like a month and a half interest accrued? Interest will be paid 9/5 ie the antecedent day of the loan term end ... that's how it works, no allowance for the fact the loan took a month to fund but it will pay 2 months interest effectively.
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on Apr 17, 2019 8:26:41 GMT
Aren't we well overdue the first month's interest by now? Loan started - 8/3. Drawdown and cashback paid - 9/4. Its the 17th now. There's like a month and a half interest accrued? Interest will be paid 9/5 ie the antecedent day of the loan term end ... that's how it works, no allowance for the fact the loan took a month to fund but it will pay 2 months interest effectively. so the ones who invested early and waited 1 month lost 1 month interest? it's better to only invest at the end?
|
|
SteveT
Member of DD Central
Posts: 6,871
Likes: 7,915
|
Post by SteveT on Apr 17, 2019 8:38:01 GMT
Interest will be paid 9/5 ie the antecedent day of the loan term end ... that's how it works, no allowance for the fact the loan took a month to fund but it will pay 2 months interest effectively. so the ones who invested early and waited 1 month lost 1 month interest? it's better to only invest at the end? No. Accrued pre-drawdown interest is paid along with the first regular monthly interest payment.
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on Apr 17, 2019 10:30:27 GMT
Ah ok makes sense. Thank you! Great to hear!
|
|
|
Post by mrclondon on Oct 12, 2019 14:55:33 GMT
The Group company accounts for y/e Dec 2017 filed at CH also contained a consolidated balance sheet for the whole group (as the first table). The accounts for y/e Dec 2018 (filed this week, late as usual) omit the consolidated balance sheet (which is optional as I understand it)
MoneyThing - It would be really helpful if a copy of the consolidated balance sheet as at Dec 2018 could be made available to lenders. Given the length of this loan, tracking group net wealth year on year is pretty much a neccessity. My concern is the group company balance sheet is showing an increase in intangibles of c. £200k, which has fed through to a £135k reduction in net worth (shareholder funds less intangibles). If replicated in the consolidated balance sheet, much of the net worth at the end of 2017 (c. £189k) would have been eliminated.
|
|
|
Post by eascogo on Nov 9, 2019 18:07:29 GMT
Update: interest payment on Monday
|
|
|
Post by Badly Drawn Stickman on Jan 10, 2022 15:15:53 GMT
This months interest is in the accounts.
Not breaking news but I wanted to move this up the list a bit.
|
|