ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 13, 2016 11:55:19 GMT
Also includes an indicative date for IFISA of Sep/Oct inline with other major platforms (12 months after FCA application seems to be the accept norm amongst platforms)
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Post by chris on Jun 13, 2016 12:28:36 GMT
If AC are not prepared to allow even a discussion of things that directly affect both investors & future shareholders is rather alarming - perhaps it should be moved to the PINK PAGES if any of the content is so sensitive. That's a gross misrepresentation. We have objected to you reposting parts of a confidential update to existing shareholders here in a public forum. If anything affects investors then we will update investors as appropriate. If there are future shareholders here then they can discuss that with either platform or via Seedrs. The alternative is that we end up obfuscating more information that goes to Seedrs investors so that it doesn't matter to us if it leaks rather than working towards more transparency for our shareholders. As ever with partial information people get the wrong end of the stick and extrapolate, and some of this information is too sensitive to then publicly discuss in enough detail to set the record straight. That is not in the interests of lenders or shareholders.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Jun 13, 2016 12:34:44 GMT
If AC are not prepared to allow even a discussion of things that directly affect both investors & future shareholders is rather alarming - perhaps it should be moved to the PINK PAGES if any of the content is so sensitive. That's a gross misrepresentation. We have objected to you reposting parts of a confidential update to existing shareholders here in a public forum. If anything affects investors then we will update investors as appropriate. If there are future shareholders here then they can discuss that with either platform or via Seedrs. The alternative is that we end up obfuscating more information that goes to Seedrs investors so that it doesn't matter to us if it leaks rather than working towards more transparency for our shareholders. As ever with partial information people get the wrong end of the stick and extrapolate, and some of this information is too sensitive to then publicly discuss in enough detail to set the record straight. That is not in the interests of lenders or shareholders. Will there be a blog post from Stuart on the AC site communicating appropriate relevant info from the update to the wider AC lender base? This would seem a logical step, as Im sure that this forum is not alone in noticing the general trend in rates etc
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Post by chris on Jun 13, 2016 12:36:18 GMT
Will there be a blog post from Stuart on the AC site communicating appropriate relevant info from the update to the wider AC lender base? This would seem a logical step, as Im sure that this forum is not alone in noticing the general trend in rates etc I'm sure marketing will be on the case in the next couple of weeks.
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Post by Ton ⓉⓞⓃ on May 4, 2019 6:37:40 GMT
Just had an email from Seedrs about a further capital raise, the email's about pre-registering.
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lobster
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Post by lobster on May 15, 2019 7:21:39 GMT
On the Seedrs website , the AC offering states (alongside the size of the offering), "Discount 10%".
I'd be grateful if someone could explain to me what this means in real terms. ie. What is actually being discounted ? Do AC contribute a further 10% to the size of your investment ? It's not at all clear to me.
Thanks.
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sl75
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Post by sl75 on May 15, 2019 7:34:25 GMT
On the Seedrs website , the AC offering states (alongside the size of the offering), "Discount 10%".I'd be grateful if someone could explain to me what this means in real terms. ie. What is actually being discounted ? Do AC contribute a further 10% to the size of your investment ? It's not at all clear to me. Thanks. The exact % of AC shares that your money will buy you is not defined at this time.
At some future time there'll be a larger equity investment, at which point a share price will be defined as a result of those negotiations. This will also define the number of shares you get with a 10% discount... i.e. for each £90 you invest now, you'll get £100 worth of shares as defined by the future defined share price (scale as appropriate).
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lobster
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Post by lobster on May 16, 2019 6:16:52 GMT
Definitely tempted by this latest round of Seedrs funding, and have been digging around trying to get to grips with the way the EIS tax relief works. It seems that you have to wait to be sent an "EIS3 certificate" , and some of the info on this certificate is then used to make the tax relief claim on your tax return.
Would anyone know how long you have to wait for the EIS3 certificate ? For instance, if I were to invest in this latest round of funding on Seedrs, would I definitely receive the EIS3 by next April 2020, and then be able to claim the tax relief in my 2019-20 tax return ? Thanks.
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bigfoot12
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Post by bigfoot12 on May 16, 2019 8:35:01 GMT
Would anyone know how long you have to wait for the EIS3 certificate ? For instance, if I were to invest in this latest round of funding on Seedrs, would I definitely receive the EIS3 by next April 2020, and then be able to claim the tax relief in my 2019-20 tax return ? Thanks. Quite likely NOT, but that might not matter. You will not receive shares until the conversion, or the longstop date. The EIS3 form is likely to follow 6-12 weeks after this. But the receipt of EIS3 isn't important (unless you want to complete your SA in record quick time) it is the date of share issue that usually matters and it seems from a brief read this might be in tax year 2019/20. Even if it isn't it has normally been the case that you can move the date back a year - so shares issued in May 2020 could be offset against income in 2019/20. Confirm the above for yourself, I might be out of date, or things might not apply to you, blah, blah etc...
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lobster
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Post by lobster on May 17, 2019 6:04:55 GMT
Many thanks to contributors in this thread - I'm new to the world of EIS and the above has most definitely helped me along the way.
Further to the discussion, I've just discovered that "EIS loss relief" applies if the business performs poorly. The worst case scenario is obviously total business failure, leaving the investment valueless. If this were to happen, 30% of the investment can be still obviously be claimed in income tax relief as discussed above, and then loss relief can be claimed on the remaining 70% at your highest marginal rate of tax.
So as an example, say a 40% tax payer invests £1,000 in an EIS which subsequently fails totally :
Firstly £300 can be reclaimed in income tax relief, and then 40% of the remaining £700, which equates to £280 can be claimed as loss relief. So in total £580 is reclaimed, and so the actual loss is only £420. ie. well over half, 58% to be exact, of the original investment can be reclaimed. A basic rate taxpayer would reclaim a very sizeable 44% of their investment.
To my mind this limited downside is definitely a sweetener. Got to say I'm tempted.
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bigfoot12
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Post by bigfoot12 on May 17, 2019 8:17:32 GMT
To my mind this limited downside is definitely a sweetener. Got to say I'm tempted. It can be even better if you die! There is a video guide on Syndicate Room website, not sure if you have to be registered to see it, which has an accountant talking about the benefits. And the great tax result of dying is one of his lines. (Not sure of the exact details, but in some circumstances EIS investments are exempt from inheritance tax, in addition to all the other reliefs.) There is a risk that EIS status won't be given, or that it is given and taken away and you won't be able to claim. I think that this risk is real.
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cb25
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Post by cb25 on May 17, 2019 8:32:29 GMT
More on AC trying to grow the business here "Assetz launches institutional fund" "ASSETZ Capital has launched a Luxembourg-based private fund, in order to attract more institutional money to scale up its lending."
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 17, 2019 8:57:01 GMT
More on AC trying to grow the business here "Assetz launches institutional fund" "ASSETZ Capital has launched a Luxembourg-based private fund, in order to attract more institutional money to scale up its lending."
Update on the Seedrs raise announced this Note suggestion it will be investing alongside retail investors not in separate institutional only loans.
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lobster
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Post by lobster on May 17, 2019 9:08:33 GMT
There is a risk that EIS status won't be given, or that it is given and taken away and you won't be able to claim. I think that this risk is real. Why do you say that ? The "EIS" label is there for all to see on the Seedrs website. Why do you think it could it be withdrawn?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on May 17, 2019 9:47:15 GMT
There is a risk that EIS status won't be given, or that it is given and taken away and you won't be able to claim. I think that this risk is real. Why do you say that ? The "EIS" label is there for all to see on the Seedrs website. Why do you think it could it be withdrawn? If you hover over it it says 'eligible' but I dont think it is formally confirmed until the shares are issues. (EIS certificates werent issued until 2 years after first convertible investment once it triggered the actual share issue) The rules could change or AC could breach one of the criteria so it no longer applies. Couple of discussion topics raising this possibility
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