victors
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Post by victors on Feb 20, 2018 8:57:58 GMT
On FS, I always shift the ones that look likeliest to default from my IFISA to my main account if possible.
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rocky1
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Post by rocky1 on Feb 20, 2018 9:05:21 GMT
how many long term or current investors would really put an extra £20k into a IFISA managed by LENDY when they cannot even manage the current loan book.i dont think so anytime soon
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stub8535
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Post by stub8535 on Feb 20, 2018 9:07:12 GMT
On FS, I always shift the ones that look likeliest to default from my IFISA to my main account if possible. Done at a full 1% premium I hope in order to boost the taxable loss and increase the isa holding victors. Wonder how it may work on platforms where discounts and premiums are 20%??
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r00lish67
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Post by r00lish67 on Feb 20, 2018 9:11:11 GMT
On FS, I always shift the ones that look likeliest to default from my IFISA to my main account if possible. On FS, I always shift the ones that look likeliest to default from my IFISA to someone else if possible. 
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tombraider
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Post by tombraider on Feb 20, 2018 9:17:54 GMT
that could prove tricky on Lendy due to the inaccuracy of valuations and the lower interest rates for loans seemingly bearing no indication of relative risk.
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littleoldlady
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Post by littleoldlady on Feb 20, 2018 9:46:57 GMT
On FS, I always shift the ones that look likeliest to default from my IFISA to my main account if possible. Do you mean that there are some which are unlikely to default?
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nick
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Post by nick on Feb 20, 2018 20:18:01 GMT
On FS, I always shift the ones that look likeliest to default from my IFISA to my main account if possible. Done at a full 1% premium I hope in order to boost the taxable loss and increase the isa holding victors . Wonder how it may work on platforms where discounts and premiums are 20%?? Its worth noting that when a transfer is carried out at a loss between connected parties (and you can't get more connected than trading with your isa!), the normal loss relief rules do not apply. Such losses may only be offset against gains arising from future disposals with the same connected party. There are also fairly broad anti-avoidance provisions to counteract the transfer the economic benefit of an asset from one person to another without an actual disposal taking place. Thus I would be weary of attempting to claim any loss on isa/non-isa account transactions as these are almost certainly not deductible.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Feb 20, 2018 20:32:44 GMT
Done at a full 1% premium I hope in order to boost the taxable loss and increase the isa holding victors . Wonder how it may work on platforms where discounts and premiums are 20%?? Its worth noting that when a transfer is carried out at a loss between connected parties (and you can't get more connected than trading with your isa!), the normal loss relief rules do not apply. Such losses may only be offset against gains arising from future disposals with the same connected party. There are also fairly broad anti-avoidance provisions to counteract the transfer the economic benefit of an asset from one person to another without an actual disposal taking place. Thus I would be weary of attempting to claim any loss on isa/non-isa account transactions as these are almost certainly not deductible. My point also nick. Some are still doing it and advertising the fact thinking it is invisible. Possible shock waiting when they submit numbers to HMRC.
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Liz
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Post by Liz on Feb 20, 2018 20:59:22 GMT
On FS, I always shift the ones that look likeliest to default from my IFISA to my main account if possible. Do you mean that there are some which are unlikely to default? Defaults are enviable, having good security when it does is important. Most of my FS loans are sub 50% LTV, the lowest is 16% LTV. You do have to avoid 95+% of loans, hence I have no defaults to date in 18 months of investing. Likewise with Lendy I have had no losses/defaults, but you have to be selective and sell out of most loans before term. Lots of losses/defaults on Thincats since 2012, but that's another story(horror) Which has taught me a lot.
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zlb
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Post by zlb on Feb 20, 2018 20:59:48 GMT
Its worth noting that when a transfer is carried out at a loss between connected parties (and you can't get more connected than trading with your isa!), the normal loss relief rules do not apply. Such losses may only be offset against gains arising from future disposals with the same connected party. There are also fairly broad anti-avoidance provisions to counteract the transfer the economic benefit of an asset from one person to another without an actual disposal taking place. Thus I would be weary of attempting to claim any loss on isa/non-isa account transactions as these are almost certainly not deductible. My point also nick. Some are still doing it and advertising the fact thinking it is invisible. Possible shock waiting when they submit numbers to HMRC. to clarify, do you refer to the same rule which says one can't move a non-isa loan into an isa?
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littleoldlady
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Post by littleoldlady on Feb 20, 2018 21:46:36 GMT
Do you mean that there are some which are unlikely to default? Defaults are enviable, having good security when it does is important. Most of my FS loans are sub 50% LTV, the lowest is 16% LTV. You do have to avoid 95+% of loans, hence I have no defaults to date in 18 months of investing. Likewise with Lendy I have had no losses/defaults, but you have to be selective and sell out of most loans before term. Lots of losses/defaults on Thincats since 2012, but that's another story(horror) Which has taught me a lot. You are either very clever or very lucky. It appears that I am neither.
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Post by wiseclerk on Feb 20, 2018 22:00:25 GMT
I have no losses or defaults with Lendy (yet) either and I have been investing for more than 3 years now.
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r00lish67
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Post by r00lish67 on Feb 20, 2018 22:03:08 GMT
I have no losses or defaults with Lendy (yet) either and I have been investing for more than 3 years now. 
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nick
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Post by nick on Feb 20, 2018 22:33:03 GMT
My point also nick . Some are still doing it and advertising the fact thinking it is invisible. Possible shock waiting when they submit numbers to HMRC. to clarify, do you refer to the same rule which says one can't move a non-isa loan into an isa? These restrictions on utilising losses from connected party transactions are separate to the rules on what you can/can't move into an ISA. As I understand it, the latter prevents direct transfer of assets into an ISA that are previously held unless via the transfer is conducted in an open market. The capital loss rules are lot more general and designed to restrict use of losses even generated from transaction between connected parties irrespective of whether the transfers are at an arms length value or not. I imagine it unlikely HMRC would detect non-allowable losses claimed in an individual's tax return. If they though it was becoming an issue,I think it would be much more likely that they would obtain platform data and target all individuals that have traded with themselves.......
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stub8535
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Post by stub8535 on Feb 21, 2018 8:12:14 GMT
to clarify, do you refer to the same rule which says one can't move a non-isa loan into an isa? These restrictions on utilising losses from connected party transactions are separate to the rules on what you can/can't move into an ISA. As I understand it, the latter prevents direct transfer of assets into an ISA that are previously held unless via the transfer is conducted in an open market. The capital loss rules are lot more general and designed to restrict use of losses even generated from transaction between connected parties irrespective of whether the transfers are at an arms length value or not. I imagine it unlikely HMRC would detect non-allowable losses claimed in an individual's tax return. If they though it was becoming an issue,I think it would be much more likely that they would obtain platform data and target all individuals that have traded with themselves....... Not only would the HMRC look to individuals, if they could find a way to spot the transactions, but the platforms would probably get hit with a massive fine for enabling it. As taxpayers do not submit lines of data from different organisations but instead sum them into a single figure for their return then they will not spot this trading. However, if platform were asked to send details of ifisa accounts showing more than, say, 20% gains on deposited money then it may be spotted in current year wrapped products. I use 20% as a guide but it could be set based on platforms usual interest rates. A call for an investor to show all their last 5 years accounts could then be issued. Not a nice process for the taxpayer from what my friend told me after she had gone through it due to an error by her accountant. Prior year money transfers would be very difficult to analyse in the same way though. It will be interesting to see the arguement on responsibility where a platform has a specialist running their ifisa if there is a fine issued.
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