Icesave FSCS comp news?

tuggy12

dali21 wrote: »

Anyone else seen this:

http://www.ft.com/cms/s/0/108635c0-9fbd-11dd-a3fa-000077b07658.html

Good news , thanks.

Isn't it just incredible that no one at either the FSA or the FSCS has had the wit to post this info as an update on their web sites.

LGG_2

bump......................

st

this e-mail jsut received fromn the FSCS

"Ms Minghella has noted your comments, and fully understands your concerns. She has asked that I reply on her behalf.
Senior Management here at the Financial Services Compensation Scheme, together with H M Treasury, the Financial Services Authority and the Icelandic authorities, are working as quickly as possible to bring matters to a conclusion, so that we can start paying out compensation to eligible claimants.
As you know, our website was updated on Friday 17 October, with the most up-to-date information on progress for claims against Icesave. Please be assured our website will be updated as soon as we have further progress to report.
I trust that the above has clarified the current situation. However, should you have any further questions, please contact me, or one of my colleagues, on our helpline 0207 892 7300.
Thank you for the patience you have shown to date, please bear with us for a little longer whilst matters are concluded."

mobfant

amistupid wrote: »

I posted this yesterday:

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4936983.ece

But this sounds much much better. Do you reckon it's time to pop the champagne!

In a word, no. I've been waiting two weeks not knowing what's happened to my Kaupthing money I transferred, and KE was meant to have been rescued. Until everyone sees their cash safely in their current/linked account, the corks stay firmly in the bottles (and the bottles should probably stay in the shops).

meunier

Yes, Mobfant, I have a feeling that is very much the way of Britain's short-term future. Those little green bottles are going to have to rest ... on the wall. Rest ... perhaps not so easy ... but rest they will.

mrpattman

presume the lack of clarity means no news on ISA accounts either, if Icesave start operfating again then presumably we can trabnsfer out, if its a payout, does this mean the Revenue will allow me to open a new ISA somewhere else this year ?

Baldur

mrpattman wrote: »

....does this mean the Revenue will allow me to open a new ISA somewhere else this year ?

Unlikely, as the tax-free status of ISA funds in Icesave is hoped to be preserved, according to official statements.

You could check with the HMRC ISA Helpline:

Getting advice
If you have any questions about the tax rules for ISAs

• call our ISA Helpline on 0845 604 1701 (Monday -Thursday 8.30-5.00, Friday 8.30-4.30).

Please have the information about your ISA available when you call.

LADY_GOLFER_3

I am under the impression that any Capital Losses in a Certain Tax year is off set against Income TAX

So are we able to claim a Tax Loss against all other tax we have paid if we are not reimbursed by April 5th?

ALso may we then carry it on into other tax years depending on what we have lost?

Obviously change our tax returns when we are if we are reimbursed completely? Does this mean we dont pay any income tax all year because of our losses capital wise?

Any accountants in the same boat?
thanks

noh

LADY_GOLFER wrote: »

I am under the impression that any Capital Losses in a Certain Tax year is off set against Income TAX

So are we able to claim a Tax Loss against all other tax we have paid if we are not reimbursed by April 5th?

ALso may we then carry it on into other tax years depending on what we have lost?

Obviously change our tax returns when we are if we are reimbursed completely? Does this mean we dont pay any income tax all year because of our losses capital wise?

Any accountants in the same boat?
thanks

No. Capital losses are offset against capital gains, not income.
You have not made a capital loss so there is nothing to offset.

EBG

Just found this on IceNews site:

http://www.icenews.is/index.php/2008/10/22/iceland-economic-update/#more-3731

"In other news, unconfirmed reports in Britain’s Financial Times state that the UK has sent a delegation to Iceland to discuss the loan of up to GBP 3 billion. If true, this approach would represent a shift in attitude towards Reykjavik from Gordon Brown’s government.
Brown’s former attitude was described as a “beggar thy neighbour reaction” yesterday by Sir Howard Davies. Sir Howard, who is the former head of the Financial Services Authority, former deputy governor of the Bank of England and current director of the London School of Economics, was speaking at the Cheung Kong Graduate School of Business in Beijing."

It seems that nobody has been to Iceland yet from the UK as we were led to believe!!!!