British Smaller

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
Ramage
Posts: 6
Joined: November 5th, 2016, 4:19 pm

Re: British Smaller

Postby Ramage » January 3rd, 2017, 12:13 pm

Hi
Thanks to Karellan for clarifying that BSC dividend will be paid as planned.

Forms for BSC2 fundraising are now available from

http://www.yfmep.com/Investor_area/

I am not adding to VCT investments this year, so its not for me.

Ramage

runnygum
Posts: 9
Joined: November 4th, 2016, 9:35 pm

Re: British Smaller

Postby runnygum » January 3rd, 2017, 2:05 pm

Yay, looking forward to the divi as I have a solid holding.

As per above, I will not be adding any more VCT's until the rules change to something more favourable and will roll out of the ones I do have as holding periods expire.

timbo003
Posts: 16
Joined: November 19th, 2016, 6:45 am

Re: British Smaller

Postby timbo003 » January 3rd, 2017, 2:45 pm

Forms for BSC2 fundraising are now available from

http://www.yfmep.com/Investor_area/


I am holding BSC2 from many moons ago, but if I was investing in a new issue this tax year, I would definitely not choose this one, mainly due to the excessive performance fee (see page 16 of the offer document). I would not consider the Maven I&G 6 offer either, as that one has a similar performance fee issue.

james188
Posts: 6
Joined: November 6th, 2016, 7:16 am

Re: British Smaller

Postby james188 » January 3rd, 2017, 9:33 pm

Performance fee calculations are invariably really complicated and the summaries provided to shareholders are generally wholly inadequate. A starting point would be for VCTs to give illustrative samples of the way in which the annual fees are calculated and the net impact that they have.

Reverting to the specific BSC issues, I note that that the BSC2 offer terms are wholly different (and in my view fairer - first come, first served) than the indicative BSC1 offer, which will literally be a complete lottery and so not for me, not least because it is so late in the tax year. I have given my views to the manager and the directors, because I think that they have misjudged things. No doubt others will have different opinions, but I think that they have made a mess of the offer and so I am going to place funds elsewhere.

Karellan
Posts: 37
Joined: November 4th, 2016, 2:42 pm

Re: British Smaller

Postby Karellan » January 4th, 2017, 4:10 pm

I expressed my opinions of this BSC issue to YFM & they were transmitted to the board. I am not going in for the issue although I would like some more , its just too close to the financial year end to let a lottery dictate your tax planning.

timbo003
Posts: 16
Joined: November 19th, 2016, 6:45 am

Re: British Smaller

Postby timbo003 » January 6th, 2017, 7:51 pm

According to Club Finance, BSC2 was 76% full as of today, so presumably it will be full by end of business on Monday. I suspect this high demand is a sign of things to come for many other generalist VCTs which are planning top ups for later in the tax year and bad news if you are a wannabe subscriber living in the parts of Britain where first class post doesn't always mean next day.

http://www.clubfinance.co.uk/VCT-funds-raised.php

scotia
Posts: 48
Joined: November 4th, 2016, 8:43 pm

Re: British Smaller

Postby scotia » January 6th, 2017, 11:03 pm

I suspect this high demand is a sign of things to come for many other generalist VCTs which are planning top ups for later in the tax year and bad news if you are a wannabe subscriber living in the parts of Britain where first class post doesn't always mean next day.

I would guess that there is going to be an avalanche of applications for the Northern offers when they become available. I suspect I'll have to settle for some more AIM VCTs this year.

UncleEbenezer
Lemon Slice
Posts: 342
Joined: November 4th, 2016, 8:17 pm

Re: British Smaller

Postby UncleEbenezer » January 7th, 2017, 1:05 pm

timbo003 wrote:According to Club Finance, BSC2 was 76% full as of today, so presumably it will be full by end of business on Monday. I suspect this high demand is a sign of things to come for many other generalist VCTs which are planning top ups for later in the tax year and bad news if you are a wannabe subscriber living in the parts of Britain where first class post doesn't always mean next day.

Got a thud on the doormat this morning. From YFM themselves, not from any of the brokers. So now I can fill in my application in time for the prepaid envelope to go in Monday's post!

Also a leaflet about a shareholder event for May 3rd.

BusyBumbleBee
Lemon Pip
Posts: 56
Joined: November 4th, 2016, 7:55 am

Re: British Smaller

Postby BusyBumbleBee » January 8th, 2017, 10:05 am

Hi UncleE - you say
So now I can fill in my application in time for the prepaid envelope to go in Monday's post!


If it were me I would get it in the post tonight - there is usually a collection on Sundays at the bigger local post offices

What amazes me here is that if you signed up for electronic communications - they still send the prospectus and application form by snail mail. Surely we signed up to get everything by email etc.

kind regards - BBB

UncleEbenezer
Lemon Slice
Posts: 342
Joined: November 4th, 2016, 8:17 pm

Re: British Smaller

Postby UncleEbenezer » January 8th, 2017, 8:28 pm

BusyBumbleBee wrote:If it were me I would get it in the post tonight - there is usually a collection on Sundays at the bigger local post offices

Sorry, my comment was meant to be ironic, contrasting the Saturday arrival of the package with timbo's observation:
  • I'm not buying any new VCTs this year: my taxable income on national minimum wage is insufficient to benefit from the tax breaks.
  • If I were buying new VCTs, British Smaller wouldn't be top of my list.

If I'd really wanted to post it (and not already done so), I could doubtless have found a post box with saturday afternoon/evening collection.

BusyBumbleBee
Lemon Pip
Posts: 56
Joined: November 4th, 2016, 7:55 am

Re: British Smaller

Postby BusyBumbleBee » January 10th, 2017, 2:11 pm

So Brit Smaller 2 offer is full already


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