Your questions answered Vol 2 - IM Private Clients

[CoopsIM]

CoopsIM said:

Good question, I will double check and come back to you,

Kindest regards

Coops

It's 95.6k as you need to add the initial 10k invested as well.

Kindest regards

Coops

[Hussein-z3ksd]

CoopsIM said:

It's 95.6k as you need to add the initial 10k invested as well.

Kindest regards

Coops

in the words of Jake Peralta 'Noice'!

[2Btoo]

Apologies if this question has already been answered but it is possible for a company to invest in IM? i.e. Invest as a company rather than as an individual?

Thanks.

[eldar]

I have a gia and an isa. I'd like to shift the gia to a specific fund in my isa. Who do i ask?

[Mr Pointy]

eldar said:

I have a gia and an isa. I'd like to shift the gia to a specific fund in my isa. Who do i ask?

You need to sell your desired amount in the GIA - which you can do from your dashboard - & then when that appears as cash it can be moved across into the ISA. £20k maximum of course.

[CoopsIM]

Mr Pointy said:

You need to sell your desired amount in the GIA - which you can do from your dashboard - & then when that appears as cash it can be moved across into the ISA. £20k maximum of course.

If you need any assistance doing this, drop me an email and I can ensure this done for you.

Kindest regards

Coops

[Burwood]

2Btoo said:

Apologies if this question has already been answered but it is possible for a company to invest in IM? i.e. Invest as a company rather than as an individual?

Thanks.

Yes you can. Just bear in mind companies do not have a CGT allowance so any realised profit will be taxed at the going company tax rates. Nether can a company utilise an ISA wrapper. Any losses can only be offset against gains in the same category (investing). Talk to your accountant

[eldar]

CoopsIM said:

Mr Pointy said:

You need to sell your desired amount in the GIA - which you can do from your dashboard - & then when that appears as cash it can be moved across into the ISA. £20k maximum of course.

If you need any assistance doing this, drop me an email and I can ensure this done for you.

Kindest regards

Coops

Excellent, thanks. I'll be in touch.

[CoopsIM]

2Btoo said:

Apologies if this question has already been answered but it is possible for a company to invest in IM? i.e. Invest as a company rather than as an individual?

Thanks.

Good afternoon.

ISA's can only be opened by individuals as that is the nature of the savings account.

You can open a GIAs for a company set up under your own name. The company will be responsible for reporting the tax on the GIA, so they will have too report it under their company for these plans. We will only accept such plans were the individual has a controlling stake in the company (i.e. over 50%).

If you have any other questions, please let me know.

Kindest regards

Coops

[forest172]

CoopsIM said:

Good afternoon.

ISA's can only be opened by individuals as that is the nature of the savings account.

You can open a GIAs for a company set up under your own name. The company will be responsible for reporting the tax on the GIA, so they will have too report it under their company for these plans. We will only accept such plans were the individual has a controlling stake in the company (i.e. over 50%).

If you have any other questions, please let me know.

Kindest regards

Coops

I`d like to do this too, what option do I use in my IM dashboard?

[Simpo Two]

Burwood said:

2Btoo said:

Apologies if this question has already been answered but it is possible for a company to invest in IM? i.e. Invest as a company rather than as an individual?

Thanks.

Yes you can. Just bear in mind companies do not have a CGT allowance so any realised profit will be taxed at the going company tax rates. Nether can a company utilise an ISA wrapper. Any losses can only be offset against gains in the same category (investing). Talk to your accountant

Just to clarify, you'd be investing in one of IM's portfolios. not in IM itself. Not even Mowgli has any IM shares (but he's probably working on it).

[2Btoo]

Burwood said:

Yes you can. Just bear in mind companies do not have a CGT allowance so any realised profit will be taxed at the going company tax rates. Nether can a company utilise an ISA wrapper. Any losses can only be offset against gains in the same category (investing). Talk to your accountant

Thanks. That makes sense and is much as I'd expect.

CoopsIM said:

Good afternoon.

ISA's can only be opened by individuals as that is the nature of the savings account.

You can open a GIAs for a company set up under your own name. The company will be responsible for reporting the tax on the GIA, so they will have too report it under their company for these plans. We will only accept such plans were the individual has a controlling stake in the company (i.e. over 50%).

If you have any other questions, please let me know.

Kindest regards

Coops

Thanks Coops. All understood and as I suspected it would be. I presume that under company taxation rules then the profit on an investment is only calculated at the point that the profit is crystallised rather than needing to be accounted for each year, much as CGT is treated for personal tax?

I'm interested in your comment about only accepting corporate investments st up under a personal name. What if a company has three main shareholders with 33% each and want to invest? Would a letter of authority signed by all the shareholders be enough to open an account?

Simpo Two said:

Just to clarify, you'd be investing in one of IM's portfolios. not in IM itself. Not even Mowgli has any IM shares (but he's probably working on it).

Natch. (And who is this 'Mowgli' creature? I'm not sure where the first reference to the fellow appeared on this thread.)

[CoopsIM]

2Btoo said:

Natch. (And who is this 'Mowgli' creature? I'm not sure where the first reference to the fellow appeared on this thread.)

I'll go back and check that as I'm not 100% sure.

I'll get back to you asap.

Kindest regards

Coops

[Burwood]

2Btoo said:

Burwood said:

Yes you can. Just bear in mind companies do not have a CGT allowance so any realised profit will be taxed at the going company tax rates. Nether can a company utilise an ISA wrapper. Any losses can only be offset against gains in the same category (investing). Talk to your accountant

Thanks. That makes sense and is much as I'd expect.

CoopsIM said:

Good afternoon.

ISA's can only be opened by individuals as that is the nature of the savings account.

You can open a GIAs for a company set up under your own name. The company will be responsible for reporting the tax on the GIA, so they will have too report it under their company for these plans. We will only accept such plans were the individual has a controlling stake in the company (i.e. over 50%).

If you have any other questions, please let me know.

Kindest regards

Coops

Thanks Coops. All understood and as I suspected it would be. I presume that under company taxation rules then the profit on an investment is only calculated at the point that the profit is crystallised rather than needing to be accounted for each year, much as CGT is treated for personal tax?

I'm interested in your comment about only accepting corporate investments st up under a personal name. What if a company has three main shareholders with 33% each and want to invest? Would a letter of authority signed by all the shareholders be enough to open an account?

Simpo Two said:

Just to clarify, you'd be investing in one of IM's portfolios. not in IM itself. Not even Mowgli has any IM shares (but he's probably working on it).

Natch. (And who is this 'Mowgli' creature? I'm not sure where the first reference to the fellow appeared on this thread.)

I assume IM want unambiguous authority to deal (re the 50%). It's not hard to imagine a scenario of one shareholder putting their oar in (without authority) and mistakes could happen. It's a sticky wicket.

[Simpo Two]

2Btoo said:

(And who is this 'Mowgli' creature? I'm not sure where the first reference to the fellow appeared on this thread.)

I hand you over to the Rt. Hon. Burwood, because it is His Fault, and he may even post a photo of the pesky blighter for your enlightenment, though I appreciate it is a bit O/T.

[PaulWoof]

From a shock loss to a shock gain.

I imagine PH recovery sales has been added to cash but not removed from recovery fund yet.

I wish this one wouldnt be fixed.

[i4got]

PaulWoof said:

From a shock loss to a shock gain.

I imagine PH recovery sales has been added to cash but not removed from recovery fund yet.

I wish this one wouldnt be fixed.

Wow that is impressive.If only it was true.

[Ali2202]

Oh dear. It's the full ''Houston WHAP'' on the dashboards. Queue old Bucks Fizz jokes etc ......

[Ron-ski]

Yes an instant 25% increase in my portfolio value is very nice, unfortunately it will correct itself with the morning update.

[mikeiow]

Ron-ski said:

Yes an instant 25% increase in my portfolio value is very nice, unfortunately it will correct itself with the morning update.

Yes, after JPH suggested not looking over the weekend, I didn't......but I just took a look now....almost fell off my chair, until I found these latest comments

This time next year, Rodders, we will be millionaires