Admiral Share Discussion Threads

[sat69] 02/12/2007 11:50

This time they've broken out - probably as a result of being promoted to the FTSE next week. Looks like they have a little further to go Graham.

sat

[graham99114] 01/12/2007 23:05

back above £10.00 - phew

[sat69] 08/11/2007 20:10

Lol!
Gray - I told you, if we managed to somehow pool our resources, we would probably do alot better.

[graham99114] 08/11/2007 18:21

Sat - your predictions are as good as mine :-)

[sat69] 08/11/2007 07:18

Another big drop due today I'm afraid guys.

[poppa07] 06/11/2007 13:41

ADMIRAL GROUP PLC

Notice of 2007 Preliminary Results

Admiral Group plc will be announcing its 2007 Preliminary Results on Tuesday 4
March 2008.

There will be an analyst presentation on the results at 9:30am on Tuesday 4
March 2008 at Lexicon Partners, No.1 Paternoster Square, London EC4M 7DX.

Those analysts wishing to attend are asked to contact Rob Bailhache at Financial
Dynamics on [phone] or at [e-mail].

The presentation will be accessible via a conference call for those unable to
attend in person. To register to participate in the conference call, please also
contact Rob Bailhache at Financial Dynamics on [phone] or at
[e-mail].

A web cast of the presentation will be available following the meeting on the
Admiral website at www.admiralgroup.co.uk.

[spacemoggy] 06/11/2007 07:25

At the bottom of its trading channel right now, i would expect a bounce from here, no advice intended though....Rick

[sat69] 05/11/2007 22:52

Gray,

Being the thread creator gives me an automatic qualification to give out advice! :-)

The chart indicates we are still in an uptrend (note the 5 consecutive new higher lows on the top right-hand 6 month chart). A fall below 920p would indicate the end of the uptrend.

This time, it's your call to decide what to do!

sat

[graham99114] 05/11/2007 22:11

nope but as I said I've oly myself to blame

I didnt realise you were qualified to advise me (financially)

Please advise me what to do now (and your contact details should your advice be incorrect !!)

[sat69] 05/11/2007 21:44

Gray,

I take it you din't take my advice? :-(

sat

[sat69] 01/11/2007 10:33

If you have so much tied up Graham, I'd strongly advise you to sell half. If they go up to £11 - sell the other half. If back down to £10 (or under) you can always buy more!

sat

[graham99114] 01/11/2007 10:22

sat69

yes I know - but at the end of the day I've only got myself to blame / praise

I intend to hold out till £11.00 - I have a lot tied up in ADM (well a lot by my standards !!) and a lot of confidence in them

[sat69] 01/11/2007 09:20

Gra... risky biz.

[graham99114] 01/11/2007 08:19

there we go £10.50 - and Im still holding

[graham99114] 31/10/2007 23:57

upped my target from £10.50 to £11.00

[sat69] 31/10/2007 16:32

...maybe if we got together, between us we'll have the puuuuuuuurfect exit point!

[sat69] 31/10/2007 16:31

Graham

I have the reverse problem - I always sell too early!

sat

[graham99114] 31/10/2007 11:09

sat69

thanks for the good luck wishes - unfortunately I have a bad habit of setting exit points and not sticking to them - I like Admiral so chances are I'll hit the £10.50 and greed will set in and I'll continue to hold

[sat69] 29/10/2007 23:05

Graham

You did really well with these. Congrats. Good luck tomorrow - hope you have a safe exit! :-)

sat

[graham99114] 29/10/2007 22:54

reference my previous post

"graham99114 - 17 Oct'07 - 14:21 - 85 of 92 edit
just topped up @ £9.65 - looking for £10.50 at least"

reached £10.40 today and would have sold if I had access to trade - Doh - will have to wait till next week now

[effortless cool] 24/10/2007 21:52

Courtesy of Deloitte:


VAT Tribunal finds insurance website is VATable

In the case of Insurancewide.com services Ltd, a decision released on 15 October, the VAT Tribunal has found that the insurance intermediary services provided by an internet comparison website did not fall within the VAT exemption. This is perhaps a surprising decision and stems from the fact that the Tribunal has taken a narrow view of what constitutes an insurance agent for VAT purposes. The Tribunal is emphatic in its view that InsuranceWide is not an insurance agent and cannot benefit from the exemption. As such, this constitutes an important VAT case for the insurance industry.

Background - InsuranceWide's Services

InsuranceWide provides a comparison service to individuals for insurance cover from various insurance companies. This is done via a website. It receives commissions from the insurers based on the number of contracts of insurance that arise from its introductions. The business has evolved from at its inception being linked to only one insurance provider to a situation where it now receives commission from all the leading insurance providers. Essentially, it provides an internet "click through" service as well as providing quotes and comparative pricing for insurance products. InsuranceWide stated in its earlier terms & conditions that it was not acting as an agent or broker (presumably for regulatory reasons) but was subsequently granted permissions by the FSA to act as an intermediary.

The Decision

The Tribunal has found that at no stage were InsuranceWide acting as an insurance agent specifically stating that the fact that InsuranceWide did not have power to bind an insurance company was a key reason why they should be denied the VAT exemption. They stated InsuranceWide at the outset was no more than a conduit for those seeking insurance to reach the insurers and that at no stage does it endorse the suitability of any insurance products as it might be expected an agent would. InsuranceWide was not helped in the case by the fact that in its own terms & conditions, and in correspondence with the UK tax authorities, it stated it was not an insurance agent (in the legal sense). The interesting, and perhaps controversial, part of the decision is that the Tribunal recognises that InsuranceWide does now provide the services of an insurance intermediary but should still be denied the VAT exemption because it is not an insurance agent for VAT purposes.

What now?

This is an important decision and may affect a number of businesses within the insurance sector. Specifically, any business operating a similar model to InsuranceWide or providing internet 'click throughs' for insurance products and/or 'quote and buy' website services should consider its position immediately. If such an insurance intermediary does not have power to bind the insurer then we should expect HM Revenue and Customs ("HMRC") to deny it the exemption. Even businesses with current exemption rulings from HMRC should be wary as the Tribunal has effectively dismissed some of the earlier UK case law in this area claiming that developments in EU VAT case law have overridden them.

There is the possibility that HMRC may seek to challenge any arrangement where an insurance intermediary (who is not an insurance broker) does not have the power to bind an insurer. It will be interesting to see HMRC's reaction, and also whether the case will be appealed, but it is potentially a case that will have the effect of narrowing the scope of the VAT exemption for insurance-related services in the UK.

[poppa07] 24/10/2007 17:46

Yeah, that was my take, though I prefer to use the term "tax dodge". :-)

[nicksoj] 24/10/2007 17:12

No chance. DS is the Chief operating officer of AGL ! Lets not forget the 200,000 share purchase @ £9.50 just days ago. More probably a tax shuffle?

[graham99114] 24/10/2007 15:14

I think he is re-shuffling his holdings - maybe getting ready to sell - I hope not

[poppa07] 24/10/2007 14:57

Company Admiral Group PLC
TIDM ADM
Headline Director/PDMR Shareholding
Released 14:53 24-Oct-07
Number 2954G

David Stevens, a Director of Admiral Group plc ("Admiral"), today transferred 100,000 0.1p Ordinary Shares of Admiral at nil cost to his wife, Heather Stevens. After the transfer, David and Heather Stevens will still be the owners of 10,084,000 ordinary shares, representing 3.84% of the total voting rights of Admiral.