mattyd - thanks for this very helpful advice. |
Rupe
yes you can claim the loss in the 08/09 tax year.
HMRC publish a list of companies that they deem the shares are of negligible value. therefore removing the need for you to physically dispose of them, which is vitually impossible.
Appian isnt actually on the list yet, but that doesnt mean you cant claim for it. i prepare tax returns for a living, and have claimed losses for clients in similar circumstances |
I'm doing my tax return for 08/09. I had a few shares in Appian, which are now obviously worth nothing. But can this be treated as a loss for tax purposes?
Any advice would be appreciated. |
selftrade have finally removed APN from my account summary. |
 SW
I agree with your sentiments in principle - everyone has to take personal responsibility for their own investments and, typically, we win some and lose some.
I do think however that it's different in cases like this - which I didn't suffer from personally - where there is, apparently, the suggestion that Directors were less than frank with shareholders and, if so, should in my view be held to account. In such circumstances, the regulatory authorities - especially on the junior markets - are all too ready to let companies off the hook with a slap on the wrist, whilst company officers rarely face prosecution as they almost often do in the US.
In the case of ENRT, for example, the Chairman has been subject of a pretty damning indictment by judges in a High Court action; has been censured by the AIM regulatory authorities (who decided not to fine the company presumably because they thought they probably couldn't pay it !) and yet is still Chairman !
This is just the sort of thing which will give the French & Germans post-Lisbon the excuse to force more regulation on London en route to reducing its role in financial services in favour of Paris and Frankfurt. |
move on guys, it's happened to us all.
no point getting bitter about it.
lost 20K myself in MTP due to directors lies as it approached suspension.
I had fully cashed out and bought back in due to director conversation...
lance it and move on. |
Getting started - 11 Nov'09 - 12:58 - 2486 of 2488
The technology is still being used and I can just not understand how a company goes from contract wins to a few months later bust?
In a word : "management".
It's not enough to have a good idea, good technology or a good product, you have to have the management capable of converting that into a profitable buiness, principally by organising the sales, marketing and the finance. This is an all too familiar tale in the UK small cap world : ENRT is another. |
i too bought on the afternoon of suspension. and was also well in profit at one stage.
really pees me off when i'm driving along and see those APR cameras everywhere. a constant reminder of how we all got lied to and subsequently shafted that day |
You need to get onto FSA
I am really annoyed as I also bought on the afternoon of suspension after contacting the company and them telling me there had been a mistake and all will be ok.
Lol, really???
The technology is still being used and I can just not understand how a company goes from contract wins to a few months later bust?
Pat Ryan has some explaining to do me thinks. |
give the fsa a nudge induna |
I bought these on the afternoon they were suspended. Could have sold them at a profit too.
Has the FSA investigated this yet? I hate seeing these shares in my account. |
And another City Eqwitties tip gone ti*s up |
Shares14, you will need to contact the FSA on the number posted above.
Do not think anything has been done as yet. |
Whats this then?i held some ot these and they got suspended havnt heard a thing since,can any one fill me in?? |
Induna123 have you telephoned the FSA or emailed Nigel? |
These are the email address of the guy behind the Langbar (LGB) Action Group.
Maybe he could give us come advice. He seems very clued up about solicitors and what not.
nigel@nigelsmith.net
nigelpwsmith@btinternet.com
btw I hold 100k. |
On 17th April 2008 Appian had this to say in the AGM Statement...
I am pleased to report that Appian has had its best half year for order intake.
Business in hand to date is £4.42 million, which is anticipated to be delivered
by the end of the current financial year. This includes all orders received in
the year to date and annual maintenance revenue. Total sales in the last
financial year amounted to £4.77 million.
Going into the second half of the financial year, our sales pipeline is strong
and the Board is optimistic about the Company's prospects for the remainder of
the financial year and beyond. Appian continues to make good progress in all its
markets in the UK, Ireland, the Middle East and the Americas. In particular, the
Company has been successful in terms of winning tenders from UK police forces.
And then to be suspended a few months later???
I spoke with the administrators today who said that the company knew months before the suspension that they were needing finance.
Yet Pat Ryan did not release this to the market in fear of not being able to sell the company.
That sounds to me as irresponsible. He had a duty to shareholders to be honest. Shares should have been suspended well before they were and I feel that the share holders were the last thing on Appian's mind. |
phoned them on your advise, case manager is going to look into Pat Ryan as he agreed that it did not seem ethical |
Apparantly the company APN, known now as NDI are owned by Dacoll in Scotland.
Brian Colling is the new chairman and can be contacted on 0870 609 1402 after 10am |
Im up for any action to be taken here. I am happy to contribute towards any costs.
I have just under 300000
My email is mred406@yahoo.co.uk |
I'm told the business went for £600K. |
I have 15,000 purchased years ago when they were 32p on a Michael Walters tip when he was working for the Mail |
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