mason
Member of DD Central
Posts: 666 
Likes: 641
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Post by mason on Mar 27, 2017 10:10:11 GMT
...and the limit is gone.
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Post by runtley on Mar 27, 2017 10:10:41 GMT
Must have been a mistake - restriction now lifted, got a chunk in  |
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bg
Member of DD Central
Posts: 1,368
Likes: 1,929
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Post by bg on Mar 27, 2017 10:11:28 GMT
Yes I am really annoyed about this. I don't care if a loan has a limit but I don't want them to send out an email saying no limit and then put one on. I transferred money in this morning and have been sitting here waiting for it. A complete waste of my time. Indeed. Well I've grabbed my 0.05% share quickly. Can't see this one lasting 24 hours.  I complained and they lifted the restriction. Will be filled soon!
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Mar 29, 2017 16:10:27 GMT
If I have to take the risk (and hit) of selling at a discount then why isn't there the chance of making profit? I'd agree with the above if the FS SM was a 'normal' market, but the tax situation distorts it significantly. With the situation the way it is, unless the seller is a non-taxpayer ISTM that there are only an extremely small number of sales where the seller actually is 'taking a hit' by selling at a discount. In the vast majority of cases, the discount offered isn't enough to cover the basic-rate tax liability on the income being transferred from the seller to the buyer. So the seller already is making a 'profit' as a result of the sale, and it's the buyer that's taking the hit from the transaction. Sales at a premium tilt the transaction even more in the sellers' favour. I accept that this is explained reasonably clearly on the website, and thus SM buyers should know what they're getting into, so banning sales at a premium shouldn't be necessary. Perhaps the great majority of SM buyers are either companies or non-taxpayers.
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