Plus500 Share Discussion Threads

[sailing john] 26/2/2018 10:24

Interesting article Stuffee
Link -

I don't think ESMA have quite understood the impact of such a significant reduction in leverage. It's pretty obvious that a large proportion of investors will move to unregulated providers putting them at risk of more than just leverage issues! I'm hoping that ESMA will back pedal a little or a lot! My understanding is that ESMA act in an advisory role? and so individual National authorities may choose to break ranks and modify their recommendations?

btw ESMAs website down this weekend perhaps couldn't cope with traffic!?

[michaeljames1] 26/2/2018 00:20

Not sure how much I agree with that, I've bought and held PLUS for the last 12 months as I have a few others (TAP, XLM) and would say holding has been far more beneficial than trying to play the volatility. That's why a lot of people using CFD's lose, it's people wanting to get rich quick and not having the patience, but as long as I'm getting a £1 dividend I don't mind!

[andyj] 24/2/2018 16:03

One of the problems with being an ex pat is that you miss out on hearing about companies like this. CFDs are only going to get more popular. Buy and hold just does not work in the modern market and more people are realising that. That will only increase as volatility increases, which will itself increase as the bull market reaches a climax. What a great investment this is. Will be taking up long positions here on Monday.

[stuffee] 23/2/2018 15:09

Msybe I've been lucky, but I've found the reclaims relatively straightforward once initially set up, using the services of ESOP. Your local tax inspector has to sign page 3 of the Israeli claim form, as supplied by ESOP, confirming you are subject to UK tax and have submittted up to date tax returns, you have to email copy of statement confirming receipt of the divis, send certified copy of passport et al, wait around four weeks and a nice little recaim arrives in your account. I've secured refunds for both direct holdings and holdings through an ISA.

[mattboxy] 23/2/2018 07:27

From my experience the rules make it impossible. You have to send proof of receiving the dividend in your account within a set number of days. Mine wasn't even in the account by the time the deadline was up. It is a huge amount of work and they really make u jump through hoops. Maybe if your broker credits very quickly but you will need to be very organised and plan well ahead

[alan00] 22/2/2018 17:14

Hi,Has anyone UK based successfully reclaimed tax on PLUS dividends? Particularly interested in whether this is possible if you hold within an ISA. From the treaty link someone posted below it stated:"Dividends paid by a company which is a resident of Israel may be taxed in Israel and according to the law of Israel but if the dividends are subject to tax in the United Kingdom the Israel tax so charged shall not exceed 15 per cent of the gross amount of the dividends."The above would suggest you can get 10% back (reducing rate to 15%), but it sounds like this might only apply if the dividend is subject to tax in the U.K. (in an ISA it isn't taxed in the U.K.). Appreciate guidance, especially if someone has reclaimed previously.

[pbutterworth1] 22/2/2018 17:08

AndrewBaker - remember Buffet (when younger)and Jessie Livermore - if you really believe in a share, don't mess about :-)

[poolefox] 22/2/2018 16:17

Some large sales today,was expecting the opposite any idea why?

[andrewbaker] 22/2/2018 13:49

Nice dividend, so expected share price drop as ex-d today. Very temping to buy more now, if I wasn't already holding overweight ... (still could, thinking about it.)

[hatfullofsky] 22/2/2018 13:24

TravellingTrader,

Going to the wire this one... 1079p.

[yertiz] 22/2/2018 13:23

In a word, no - As you purchased your shares yesterday, before Plus500 went XD, the share price was always going to drop today reflecting the divi payout (which you will receive). ESMA will have little impact IMHO, so looking forward to the 2018 ride!

[dannyt90] 22/2/2018 13:07

New investor as of yesterday. So today's drop isn't anything to worry about?

[noujay] 22/2/2018 13:04

That's £25-30m!

[stuffee] 22/2/2018 12:31

re ESMA

Anyone received any info on ESMA's likely date of publication of new CFD restrictions? This might be a crucial date. ESMA issued last release on 18 Jan on possible restrictions as follows:

"The specific potential measures under consideration are:
i. Leverage limits on the opening of a position by a retail client. These would range from 30:1 to 5:1 to reflect the historical price behaviour of different classes of underlying assets;
ii. A margin close out rule on a position by position basis. This would standardise the percentage of margin at which providers are required to close out a retail client’s open CFD;
iii. Negative balance protection on a per account basis. This would provide an overall guaranteed limit on retail client losses;
iv. A restriction on the incentivisation of trading provided by a CFD provider; and
v. A standardised risk warning by CFD providers. This would include an indication of the range of losses on retail investor accounts.
ESMA is also considering whether CFDs in cryptocurrencies should be addressed in the measures".

Responses to their draft were required by 5 Feb.

Plus have stated it doesn't feel likely new restrictions should hurt too much. In the absence of draconian new rules, I'm sure publication could lead to much renewed heavy investor interest in Plus et al from funds reluctant to take position till uncertainty clarified.

[poolefox] 22/2/2018 09:58

06 Mar 2017Plus500 tax vouchers for ISA and SIPP

Dear

Thank you for your query regarding your Plus500 dividend payment.

The relevant form you will need to complete is available at the link below. We have forwarded to you in the post today the necessary supporting documents.

hxxps://taxes.gov.il/TaxesFormsList/itca114.pdf

Please also find below the double taxation agreement between the UK and Israel to assist you with the completion of the above;



Please be aware that some Double Taxation Agreements stipulate that the payment has to be taxable in the country the payment is remitted in order to qualify for a refund. Your shares are held within an ISA which is exempt from UK tax and therefore may not be eligible for a refund.

We are unable to issue dividend confirmations for SIPP holdings because HMRC rules state that you cannot derive a benefit from a pension outside of the pension wrapper. A reclaim of tax by yourself would fall under this category and would therefore be in conflict of the pension regulations.

[pbutterworth1] 22/2/2018 09:39

PLUS - what a bargain today. Still my fav share. Bought more AM. GLA

[michaeljames1] 22/2/2018 09:03

If I have it in an ISA is there potential for me to claim it tax free or will the Israeli authorities always grab a bit of it?

[sailing john] 22/2/2018 08:29

Why ouch - divi 104p and most pay tax whether income/withholding or capital gain. Price dictated by tax liability of Investment Companies anyway and not PIs
Will take a few days to settle and we now have a news gap until Q1 with ESMA lurking in the wings although personally I think ESMA might ease some of their leverage proposals given they will push investors to unregulated providers. (Current proposals priced in I assume)

[sailing john] 21/2/2018 22:23

You can get 15% double tax relief via your tax return to HMRC and the balance 10% has to be reclaimed from Israeli tax authority. PLUS have a simplified process but still not easy!
There have been RNSs to explain but probably also on website

[basem1] 21/2/2018 22:00

Got it folks. It's 25% or reduced to 15% upon application to the Israeli authorities. For me personally with 1200 shares its £120 potential saving on application. Money well spent if only a few minutes paperwork but I haven't a clue where to start ? Is it something ones broker can help with, I'm execution only with iii. ?

[basem1] 21/2/2018 21:53

How much is the tax folks ? TIA.

[hatfullofsky] 21/2/2018 21:37

TT,

A friendly wager, I bet you a pint of Toldyouso that this will close below 1079 tomorrow :-)