Classic car EIS
Discussion
When I start reading about this sort of thing, I am reminded that the shiny suits of the fund management industry really do have the institutional memory of a goldfish. Of rather, they hope their marks have the memory of a goldfish.
Did I miss the risk warnings, and really.. *no* costs?
http://chillinghamclassics.com/invest
Did I miss the risk warnings, and really.. *no* costs?
http://chillinghamclassics.com/invest
Ginge R said:
When I start reading about this sort of thing, I am reminded that the shiny suits of the fund management industry really do have the institutional memory of a goldfish.
http://chillinghamclassics.com/invest
Regardless of its merits this isn't in any way an investment fund, so your comment above seems a little misplaced.http://chillinghamclassics.com/invest
That was true, I didn't say it was an investment.. despite the fact that it is. My specific comment was about the gratuitous self indulgence and greed of some aspects of the fund management industry and those who get suckered into stuff like this, which, frankly, appears to breach more aspects of regulation than I could shake a stick at. I hope that clarifies it for you.
I don't really see the problem.
It enables you do put money in to classic cars without having to go out and buy an F40. If the EIS wrapper is correct then you also get loss relief and CGT free growth.
Yes there are inherent risks that the value of cars may go down as well as up but if it continues the way it has then I don't really understand what you are on about?
It enables you do put money in to classic cars without having to go out and buy an F40. If the EIS wrapper is correct then you also get loss relief and CGT free growth.
Yes there are inherent risks that the value of cars may go down as well as up but if it continues the way it has then I don't really understand what you are on about?
Ginge R said:
That was true, I didn't say it was an investment.. despite the fact that it is. My specific comment was about the gratuitous self indulgence and greed of some aspects of the fund management industry and those who get suckered into stuff like this, which, frankly, appears to breach more aspects of regulation than I could shake a stick at. I hope that clarifies it for you.
It is not me that is lacking clarity.For (I hope) the last time, this has NOTHING to do with the fund management industry. It is a company, investment into which can attract relief under EIS. There is no fund. There are no fund managers. Your sour barb is mis-directed.
Ian,
If you think that this bears no comparison with the wealth, financial, or fund management industry, take a look at the entity behind it; http://cloisters.co. Do a cross reference between Cloisters and the shareholders of Chillingham. You suggested that there was no involvement ("are not involved"). With respect, the filings suggest otherwise.
Cloisters is one of three Appointed Representatives of http://endven.com, offering a variety of exotic, unprotected and unregulated investment 'opportunities' to 'sophisticated' clients. If you think this has got no connection at all to the fund management industry (which is what I suggested), you're incorrect.
I did not refer to it as an OEIC (or similar specific fund structure). I made comparisons with the Fund Management industry. I stand by that.
If you think that this bears no comparison with the wealth, financial, or fund management industry, take a look at the entity behind it; http://cloisters.co. Do a cross reference between Cloisters and the shareholders of Chillingham. You suggested that there was no involvement ("are not involved"). With respect, the filings suggest otherwise.
Cloisters is one of three Appointed Representatives of http://endven.com, offering a variety of exotic, unprotected and unregulated investment 'opportunities' to 'sophisticated' clients. If you think this has got no connection at all to the fund management industry (which is what I suggested), you're incorrect.
I did not refer to it as an OEIC (or similar specific fund structure). I made comparisons with the Fund Management industry. I stand by that.
Ginge R said:
Ian,
If you think that this bears no comparison with the wealth, financial, or fund management industry, take a look at the entity behind it; http://cloisters.co. Do a cross reference between Cloisters and the shareholders of Chillingham. You suggested that there was no involvement ("are not involved"). With respect, the filings suggest otherwise.
Cloisters is one of three Appointed Representatives of http://endven.com, offering a variety of exotic, unprotected and unregulated investment 'opportunities' to 'sophisticated' clients. If you think this has got no connection at all to the fund management industry (which is what I suggested), you're incorrect.
I did not refer to it as an OEIC (or similar specific fund structure). I made comparisons with the Fund Management industry. I stand by that.
In the same way that (based on your helpful comments on threads in this section) you appear to be a decent financial adviser who would be keen to distance themselves from many others who operate in a similar field but who are much less scrupulous, it is hardly surprising that some people take offence at your categorisation of this investment when in reality it has very little to do with the 'fund management industry' and everything to do with unscrupulous individuals looking to rip off customers using whatever means they can. If you think that this bears no comparison with the wealth, financial, or fund management industry, take a look at the entity behind it; http://cloisters.co. Do a cross reference between Cloisters and the shareholders of Chillingham. You suggested that there was no involvement ("are not involved"). With respect, the filings suggest otherwise.
Cloisters is one of three Appointed Representatives of http://endven.com, offering a variety of exotic, unprotected and unregulated investment 'opportunities' to 'sophisticated' clients. If you think this has got no connection at all to the fund management industry (which is what I suggested), you're incorrect.
I did not refer to it as an OEIC (or similar specific fund structure). I made comparisons with the Fund Management industry. I stand by that.
I'm being careful about what I say..!
Even with the best of intentions, without the dull and tedious oversight that most regulated investments provide, exotic and left field investments can bite back for many more reasons. I'm sure that the people behind that are fine but it typifies the sort of structure that has far more potential to end in tears.
Even with the best of intentions, without the dull and tedious oversight that most regulated investments provide, exotic and left field investments can bite back for many more reasons. I'm sure that the people behind that are fine but it typifies the sort of structure that has far more potential to end in tears.
I received Chillingham's information memorandum last year - this is a straightforward investment in a classic car dealer & restoration/repair/servicing business. As I recall their USP is that they're in the middle of the country (UK) while the industry is centred around London and the South. It is well presented and looks legitimate, though HMRC might view the pre-meditated exit as sailing very close to the wind in terms of compliance (EIS investments are always at risk through investor or company finding itself outside compliance or HMRC withdrawing eligibility).
Declaring my interest - I have an SEIS/EIS wheeze that delivers 50% back to investors through tax relief, let's them use the assets, isn't restricted to cars and has HMRC's written approval - PM me if interested ; ) I've got a one pager that explains it.
Declaring my interest - I have an SEIS/EIS wheeze that delivers 50% back to investors through tax relief, let's them use the assets, isn't restricted to cars and has HMRC's written approval - PM me if interested ; ) I've got a one pager that explains it.
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