Barclays Share Discussion Threads

[ludlow3] 14/5/2010 10:01

for the first time in 21 years i will not be buying a new car going to spend my money in malta

[hoper1] 14/5/2010 09:53

Not exactly a Tory win was it - more a NL loss!

[ludlow3] 14/5/2010 09:17

this is the first time in history that the market as dropped on a tory win

[ludlow3] 14/5/2010 09:17

THE MARKET IS TELLING YOU THAT THEY DO NOT LIKE THIS GOV VERMENT OF LIARS

[grahamite2] 14/5/2010 09:13

So much for 318. Anyway I've closed a HSBA short for a few bob, no sense being greedy. Fall seems a bit overdone, at least until the Americans come out to play.

[bobp] 14/5/2010 09:10

I'll see what this afternoon brings, if on the back of the dow we keep losing ground and get to 304p I'll buy and hold over the weekend, if it doesn't reach that I'll sit tight.

[wenlynn] 14/5/2010 08:36

BobP,
Thanks for that.
If CGT is attacked then opening a Limited Company could be an option.

I was a freelance Computer Programmer for 30 years and my companies were "Wenlynn Limited", "Overzeal Limited" and "Purple Sound Unlimited".

[grahamite2] 14/5/2010 08:33

Bounced off S2 (318) 3 times now, looking a solid floor. However that might be very short term - Dow expected to have another off day.

[bobp] 14/5/2010 08:29

Wenlynn,

Say you had a £6000 tax liability ( from all the barc trading you do :-) ), instead of that liability standing as it is, you simple work out all the cost incurred that year in running the 'business' and offset it.

So, all those bills you pay now may come to say £3500 (and you are paying them anyway) with you doing your trading under a business umbrella you offset it, so your tax liability to actually pay is reduced to £2500

[wenlynn] 14/5/2010 08:18

Ludders,
Isn't it 10k ?

[jamrol] 14/5/2010 08:17

who hear is really interested in politics? time we discussed Barclays and the ever growing profits UK banks are now making....could they annouce that the divi payment will be increased?

[wenlynn] 14/5/2010 08:17

BobP,
But surely the profit is still taxed ?

[ludlow3] 14/5/2010 08:16

how will barcs split and how will investers get the split in shares

[ludlow3] 14/5/2010 08:15

putting the 7k and 7k for your wifeis not worth the bother

[bobp] 14/5/2010 08:12

Folks,

I'm sure many of you are already aware of this but if you create a 'company', even as a sole trader and not limited, you can trade shares with expenses offset against profit as this is your business.

Things have to be in place such as bank account and a simple book system but it will certainly offset liability.

There's the cost of all your IT, phone bills, heating/lighting ( I do 50% ), monthly ADVFN subs, those business meetings you have in town with other mates who trade etc.

Apologies if it comes across as a bit basic to some who already do this but if like many you have drifted into this game you perhaps ought to consider 'wrapping' it up to avoid unnecessary tax

[ludlow3] 14/5/2010 08:11

barcs will now split take the profitable part out of uk . loss of taxes for the gov and jobs

[isis] 14/5/2010 08:01

Coalition government: outcry over Capital Gain Tax plans
There was growing unease in the City last night over the new government's plan to alter capital gains tax, with experts claiming it was "legalised theft".

Harry Wallop, Richard Tyler and Robert Winnett
Published: 6:30AM BST 14 May 2010
Comments 14 | Comment on this article

The City of London has called the Capital Gains tax "legalised theft". Photo: REX FEATURES
Wealthy entrepreneurs and second home owners, as well as savers with modest holdings of shares, could be hit hard, accountants warned.
The coalition agreement document makes clear the new government intends to raise so-called non-business capital gains from its current 18 per cent to "similar or close to those applied to income".

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This could mean that the tax rate people pay on any profit gained from the sale of a second home or some shares would jump from 18 per cent to either 40 per cent or 50 per cent.
However, on top of this change, it is understood that the Liberal Democrats also want to lower the threshold level at which capital-gains tax becomes payable.
At the moment, the first £10,100 is tax-free but the Lib Dems want this to be reduced to less than £5,000, possibly to as low as £2,500. The Conservatives are understood to be resistant to the idea and negotiations are continuing.
Mary Monfries, head of UK private business at Price Waterhouse Coopers, said her firm had been "inundated" with calls from clients asking what they should do.
Mark Dampier, a leading financial adviser at Hargreaves Landsdown, said he too had received calls from worried investors. "I find it absolutely extraordinary the idea that this tax could rise to as much as 50 per cent.
"It is legalised theft. People invest in shares and take the risk they could rise or fall. It is absolutely nuts to then tax at such a high rate. It is an anti-savings, anti-enterprise move and I'm appalled that the Tories could even consider this."
Entrepreneurs, who often pay themselves a cut of the profit when they sell a business - rather than a salary - could be some of the hardest hit. The Government has only indicated that entrepreneurs would enjoy "generous exemptions" but has yet to define what this means.
Tom Hulme, a 33- year old design director at IDEO, the global design consultancy, said he would not be happy with an increase. "It would hit the entrepreneur hardest. It's taxation on behaviour that happened a long time ago. It's a shift in the goalposts," he said.
Mr Dampier added that if the threshold was to fall from £10,100 to £2,500, it would see many ordinary shareholders – including shop floor staff who bought shares through a company's save as you earn schemes – included in the tax.
"[Nick] Clegg spent most of the election saying it was a scandal that a cleaner was taxed at the same rate as the banker, whose office she cleaned. Lowering the CGT threshold would do exactly that. It would hit cleaners who had carefully saved up over many years," said Mr Dampier.
Mike Warburton, a leading tax adviser at Grant Thornton, an accountancy firm, calculated that if the threshold was lowered to £2,500 the number of people affected would increase from 130,000, who currently pay it each year, to 500,000.
"It is a very expensive tax to administer. I can't imagine that HM Revenue & Customs would welcome this move. It would create an awful lot of work. And I think it would create an outcry among small shareholders."

[wilba] 14/5/2010 07:55

Next round of sabre rattling and bank bashing commencing. Looks like World War III will be fought in the markets. Nice to know who the allies are.

[gbh2] 14/5/2010 07:47

I'm expecting a DOW led recovery this afternoon, £ still getting hammered and looking oversold imo.

[wilba] 14/5/2010 07:46

Two good articles. Thanks guys.

[bobp] 14/5/2010 07:45

Morning G2, I'm not in at the moment but have another buy in at 304.

I'm a bit concerned about reaching the 315 level and after a few minutes its 312, 310, 309 etc

The emergency budget can't hold any good news for banks but things may get oversold in the banking sector in the run up.

Also, I want to know the expo to Spain that barc has but its invisible. I thought they'd loaned out money bigtime for mortgages over there, if so it's a hidden problem we don't need.

[wenlynn] 14/5/2010 07:40

It will not be a good time to hold British Banks this side of the emergency Budget.
Even if you make a profit it will be taxed at 40%.

[grahamite2] 14/5/2010 07:13

Best to buy at 318 or wait for 314? Or give it a miss?