alender
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Post by alender on Mar 24, 2021 21:39:41 GMT
Tell you what, why don’t we have a whip round and donate the 0.1% to him? You know what? I’d double it just for the peace and quiet! This sounds like a great idea, donate the money to AC, AC could turn out their pockets and with all of this AC can use this money so the people wanting to leave at par can do so.
This then beggars the question why AC do not just do this on own if the amounts are so small.
AC have no intention of anyone getting more money back than absolutely necessary one way or the other they want to keep in locked in the accounts. I doubt there are enough people willing to buy on the SM at 0.1% discount to clear the withdraw queue. - If the withdraw queue is eliminated by this method I doubt there would be much money left in the AAs.
However if you believe that a significant number of people wish to stay with AC this is a sensible course of action to rid of AC of these troublesome lenders then AC would be left with only willing investors.
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alender
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Post by alender on Mar 24, 2021 21:44:35 GMT
I've just reinvested my todays MLA and 90-day payouts into 30-day at par. Would've been nice to have it done @-0.1%, but it doesn't seem to be on offer anymore. Hardly anything on MLA, my orders are gradually filling up, but very slowly. Doesn't look like there is much hunger for "ACexit". There certainly doesn't seem to be much demand to exit the AAs at very modest cost, given there's at least £25K of orders to buy at 0.1% discount unmatched by sellers. The question is why are people waiting to buy at 0.1%, surly you would be better of buying in at par, it would not take long to make up the 0.1%.
Can't wait for tonight payout, may be a nice bonus a little after 1am.
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cb25
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Post by cb25 on Mar 24, 2021 22:04:33 GMT
There certainly doesn't seem to be much demand to exit the AAs at very modest cost, given there's at least £25K of orders to buy at 0.1% discount unmatched by sellers. The question is why are people waiting to buy at 0.1%, surly you would be better of buying in at par, it would not take long to make up the 0.1%.
Can't wait for tonight payout, may be a nice bonus a little after 1am.
I guess it makes sense if it's matched within a few days, but I don't bother doing it myself. Currently I either buy in at par or ask (generally unsuccessfully) for a higher discount.
If there was large demand to sell out of the AAs at 0.1%, I'd expect to see that reflected in the marketplace - unmatched 0.1% sell orders. However, ever since the last big pay out we've consistently seen the opposite, i.e. 0.1% buy orders unmatched by sellers.
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Post by df on Mar 24, 2021 22:07:08 GMT
There certainly doesn't seem to be much demand to exit the AAs at very modest cost, given there's at least £25K of orders to buy at 0.1% discount unmatched by sellers. The question is why are people waiting to buy at 0.1%, surly you would be better of buying in at par, it would not take long to make up the 0.1%.
Can't wait for tonight payout, may be a nice bonus a little after 1am.
Exactly, cash drag can outweigh 0.1% gain.
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alender
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Post by alender on Mar 24, 2021 22:21:51 GMT
Can't wait for tonight payout, may be a nice bonus a little after 1am. typo alert. little in the wrong place  . should read a little bonus after 1am. Unless AC suddenly reduce the base level of cash they deem required in the AAs I’d put the likely disruption tonight as a tiddler compared to last night. Possibly 1/6th to 1/7th. Or about half a mill vs last nights circa £3.5m. Not worth waiting up then.
Still going to happen a little after 1am if it happens at all.
The question I would like to know is where is the par buys money going, is it funding the withdrawals as per the SM rules i.e. FiFO, is it funding the withdrawals pro rata, pre SM. or is going anywhere else.
Looking at my repayments they are the same % for each of the accounts but some accounts have been longer in the withdraw queue which leads me to the assumption that the withdrawals are being paid out under the pro rata system, the par buys are so small to disappear in rounding (whole pence) or are not being distributed.
The next set of interest payments should be interesting if there is nothing in the discount queues the reinvested interest will go back in at par, hopefully this will further reduce the withdraw queue.
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johni
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Post by johni on Mar 25, 2021 16:25:24 GMT
typo alert. little in the wrong place . should read a little bonus after 1am. Unless AC suddenly reduce the base level of cash they deem required in the AAs I’d put the likely disruption tonight as a tiddler compared to last night. Possibly 1/6th to 1/7th. Or about half a mill vs last nights circa £3.5m. Not worth waiting up then.
Still going to happen a little after 1am if it happens at all.
The question I would like to know is where is the par buys money going, is it funding the withdrawals as per the SM rules i.e. FiFO, is it funding the withdrawals pro rata, pre SM. or is going anywhere else.
Looking at my repayments they are the same % for each of the accounts but some accounts have been longer in the withdraw queue which leads me to the assumption that the withdrawals are being paid out under the pro rata system, the par buys are so small to disappear in rounding (whole pence) or are not being distributed.
The next set of interest payments should be interesting if there is nothing in the discount queues the reinvested interest will go back in at par, hopefully this will further reduce the withdraw queue.
So if you are genuinely wanting out of AC then why dont you put the £200 or whatever the small amount is into the accounts to repay the discount and walk away? You still have all your complaints into the FOM so why are you still here?
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alender
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Post by alender on Mar 25, 2021 16:44:59 GMT
Not worth waiting up then.
Still going to happen a little after 1am if it happens at all.
The question I would like to know is where is the par buys money going, is it funding the withdrawals as per the SM rules i.e. FiFO, is it funding the withdrawals pro rata, pre SM. or is going anywhere else.
Looking at my repayments they are the same % for each of the accounts but some accounts have been longer in the withdraw queue which leads me to the assumption that the withdrawals are being paid out under the pro rata system, the par buys are so small to disappear in rounding (whole pence) or are not being distributed.
The next set of interest payments should be interesting if there is nothing in the discount queues the reinvested interest will go back in at par, hopefully this will further reduce the withdraw queue.
So if you are genuinely wanting out of AC then why dont you put the £200 or whatever the small amount is into the accounts to repay the discount and walk away? You still have all your complaints into the FOM so why are you still here? It is to do with how to handle to the loses in company accounts. If you want more detail go through the posts on this, there were a number.
A number of well informed people on this forum have tried to help including an accountant but there is no clear answer, I suspect because this product is unique so HMRC have no information and nether does anyone else.
Please do not come back with it is capital loss, or it can be marked as a trading loss or anything else if you do not know, I need some proof either from HMRC website or an accountancy site. If I was to seek the specialist advice which would be required if I traded at a loss it would cost far more than the losses and even if I got this I am not sure the software used to enter the accounts can cope with it as it designed just for small businesses not new unique products. Before I get more comments the Books have to balance (which they will not unless I can find a place for the losses) and if they do not balance the software will not submit the accounts.
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johni
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Post by johni on Mar 25, 2021 19:31:35 GMT
So if you are genuinely wanting out of AC then why dont you put the £200 or whatever the small amount is into the accounts to repay the discount and walk away? You still have all your complaints into the FOM so why are you still here? It is to do with how to handle to the loses in company accounts. If you want more detail go through the posts on this, there were a number.
A number of well informed people on this forum have tried to help including an accountant but there is no clear answer, I suspect because this product is unique so HMRC have no information and nether does anyone else.
Please do not come back with it is capital loss, or it can be marked as a trading loss or anything else if you do not know, I need some proof either from HMRC website or an accountancy site. If I was to seek the specialist advice which would be required if I traded at a loss it would cost far more than the losses and even if I got this I am not sure the software used to enter the accounts can cope with it as it designed just for small businesses not new unique products. Before I get more comments the Books have to balance (which they will not unless I can find a place for the losses) and if they do not balance the software will not submit the accounts.
It is actually a serious suggestion to put the £200 in your self show no loss job done.
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Post by Badly Drawn Stickman on Mar 25, 2021 20:14:17 GMT
It is to do with how to handle to the loses in company accounts. If you want more detail go through the posts on this, there were a number.
A number of well informed people on this forum have tried to help including an accountant but there is no clear answer, I suspect because this product is unique so HMRC have no information and nether does anyone else.
Please do not come back with it is capital loss, or it can be marked as a trading loss or anything else if you do not know, I need some proof either from HMRC website or an accountancy site. If I was to seek the specialist advice which would be required if I traded at a loss it would cost far more than the losses and even if I got this I am not sure the software used to enter the accounts can cope with it as it designed just for small businesses not new unique products. Before I get more comments the Books have to balance (which they will not unless I can find a place for the losses) and if they do not balance the software will not submit the accounts.
It is actually a serious suggestion to put the £200 in your self show no loss job done. Maybe slightly less serious, but I suspect if a gofundme page was set up many on here would be happy to contribute if it stopped the (insert description of choice) postings.
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alender
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Post by alender on Mar 25, 2021 21:15:21 GMT
It is to do with how to handle to the loses in company accounts. If you want more detail go through the posts on this, there were a number.
A number of well informed people on this forum have tried to help including an accountant but there is no clear answer, I suspect because this product is unique so HMRC have no information and nether does anyone else.
Please do not come back with it is capital loss, or it can be marked as a trading loss or anything else if you do not know, I need some proof either from HMRC website or an accountancy site. If I was to seek the specialist advice which would be required if I traded at a loss it would cost far more than the losses and even if I got this I am not sure the software used to enter the accounts can cope with it as it designed just for small businesses not new unique products. Before I get more comments the Books have to balance (which they will not unless I can find a place for the losses) and if they do not balance the software will not submit the accounts.
It is actually a serious suggestion to put the £200 in your self show no loss job done. I am not sure what to make of this.
I have gone through this in previous posts but from what I can find the only option I have to get losses handle correctly in the books would be to hand all the accounts over to a specialist accountant and that would probably be well in excess of £1000 per year. Currently I do all my accounts and there will be a fair amount of work handing it over and if I wanted it back after one year a lot of work to get it back in all the spreadsheets. in all a lot of expense and time. The books are already too complicated for the local accountants I have approached before this issue. I sure that they could handle them but it is out of there area and will take them a time check out what must be done so unless I pay a lot of fees they are not interested. A few years ago I tried a number of local accountants but they none were interested and said that they were too busy to take this on. Also not been able to find accountants to help with the complicated issues, if they were going to get involved they just want to do all the books or nothing but then stated either way they did not have the time. I am lucky I have found a very helpful accountant who does a check of the books and submits them from the tags I set up in spreadsheets, this is not only out of her area but she in snowed under with all the additional covid related work she has to do for her clients. If/when she has a bit more time I will seek advice on this but I would not expect this until after furlough claims etc.
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iRobot
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Post by iRobot on Mar 26, 2021 11:14:39 GMT
It is actually a serious suggestion to put the £200 in your self show no loss job done. I am not sure what to make of this. I have gone through this in previous posts but from what I can find the only option I have to get losses handle correctly in the books would be to hand all the accounts over to a specialist accountant and that would probably be well in excess of £1000 per year. Currently I do all my accounts and there will be a fair amount of work handing it over and if I wanted it back after one year a lot of work to get it back in all the spreadsheets. in all a lot of expense and time. The books are already too complicated for the local accountants I have approached before this issue. I sure that they could handle them but it is out of there area and will take them a time check out what must be done so unless I pay a lot of fees they are not interested. A few years ago I tried a number of local accountants but they none were interested and said that they were too busy to take this on. Also not been able to find accountants to help with the complicated issues, if they were going to get involved they just want to do all the books or nothing but then stated either way they did not have the time. I am lucky I have found a very helpful accountant who does a check of the books and submits them from the tags I set up in spreadsheets, this is not only out of her area but she in snowed under with all the additional covid related work she has to do for her clients. If/when she has a bit more time I will seek advice on this but I would not expect this until after furlough claims etc.
Look on the bright side - at least any fees incurred would be tax deductible!   I know we've had this discussion before, and I appreciate you've already stated that time isn't on your side right now, but.... - if you were to use the SM to liquidate your AA holdings now, what would be the Y/E date for the reporting year in which it fell? And what would your subsequent reporting deadline be?
- did you take on board you can extend that deadline by a number of months using the (perfectly legitimate) process previously mentioned?
Might this provide a sufficient amount time re: her availability?
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alender
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Post by alender on Mar 26, 2021 11:57:27 GMT
I am not sure what to make of this. I have gone through this in previous posts but from what I can find the only option I have to get losses handle correctly in the books would be to hand all the accounts over to a specialist accountant and that would probably be well in excess of £1000 per year. Currently I do all my accounts and there will be a fair amount of work handing it over and if I wanted it back after one year a lot of work to get it back in all the spreadsheets. in all a lot of expense and time. The books are already too complicated for the local accountants I have approached before this issue. I sure that they could handle them but it is out of there area and will take them a time check out what must be done so unless I pay a lot of fees they are not interested. A few years ago I tried a number of local accountants but they none were interested and said that they were too busy to take this on. Also not been able to find accountants to help with the complicated issues, if they were going to get involved they just want to do all the books or nothing but then stated either way they did not have the time. I am lucky I have found a very helpful accountant who does a check of the books and submits them from the tags I set up in spreadsheets, this is not only out of her area but she in snowed under with all the additional covid related work she has to do for her clients. If/when she has a bit more time I will seek advice on this but I would not expect this until after furlough claims etc.
Look on the bright side - at least any fees incurred would be tax deductible! I know we've had this discussion before, and I appreciate you've already stated that time isn't on your side right now, but.... - if you were to use the SM to liquidate your AA holdings now, what would be the Y/E date for the reporting year in which it fell? And what would your subsequent reporting deadline be?
- did you take on board you can extend that deadline by a number of months using the (perfectly legitimate) process previously mentioned?
Might this provide a sufficient amount time re: her availability?
Considering a number of things, will leave into to the next financial year to decide as no time now, one is somehow move it off the company books to myself or perhaps add the loses in from my own funds to balance the books so in effect that the loss myself, not sure about these though but the books would balance. Would like to ask the accountant I use to input the books but I know she is completely overwhelmed with Covid stuff.
However not so important now as last year as I now have surplus money in the company. Last year I asked for notice on 1/3 of my funds in the 30D (same as most years) early in Feb, came through in time to get it out, AC had lost my Bank account confirmation details so would not pay out even thought I had used this account many times before. I immediately sent the details AC delayed the confirmation checks until after until after lock in and then locked up all my funds as invest idle funds was set, a setting I knew nothing about up to then. Contacted AC who after various delays refused to help in any way.
Was hoping this would work itself out with the repayments but looks like this not going to happen otherwise there would not be a need for an exit account.
There are two problems with the tax deductible, I don't (at least at present) have the income for deductions so it would just be a loss, also it would/could run over £1000 per year. It would take a lot of time and effort on my part to find accountant, explain the situation, hand over books etc. Also spending all of my spare time looking at Equity investments which have netted magnitudes more money in just the last few weeks than potential sell loses at AC.
Only brought this up again as I keep being asked why don't I just sell out and take a very small loss.
Some are saying on this forum we are "Bat Crazy", "die in ditch before AC invest another penny of their money in new loans brigade". Even today questioned what last night meant.
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alender
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Post by alender on Mar 26, 2021 14:05:45 GMT
... Some are saying on this forum we are "Bat Crazy", "die in ditch before AC invest another penny of their money in new loans brigade". Even today questioned what last night meant. I must omit the offending party sounds firmly like it’s me! So, my apologies if I’ve offended you. The simplest thing is if we don’t interact further. Sorry to go against your wishes I thought I would reply.
Thank you for the apology but I am not offended, I guess my opinion that I am all for a robust debate but play the ball not the man and making this point by these comments and understand that feeling are running high when the future of money invested is at stake. I known I am now in minority here perhaps because most people who wanted out of AC have gone via the SM and probably have very little interest in this Forum and some rightly say just take a small loss and leave. However as stated it is not that easy for me.
I will now respect your wishes if you do not want further interaction.
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. should read 
