Ripple Energy wind farm?

Netexporter

I assumed they were sticking to the usual Sunday night is communication night protocol, but nothing in my inbox, so far.

QrizB

Netexporter said:

I assumed they were sticking to the usual Sunday night is communication night protocol, but nothing in my inbox, so far.

I've just received an email from Ripple, so hopefully they've caught up!

thevilla

There's now a recording of the co-op's AGM on YouTube. I was hoping for more info on the Ripple management replacement but that's still a bit sketchy.  It seems to be progressing though.  Really impressive progress considering it has all been a voluntary effort.

QrizB

I recall that the Kirk Hill co-op were saying they'd send out statements of earnings to members in time for the 2024-25 tax return deadline.

The deadline is the end of this month, but I've not had anything from Kirk Hill yet. Has anyone else heard anything?

Exiled_Tyke

Not heard anything.  I submitted my tax return calculating interest and capital on the basis originally quoted to us. I then declared that the return had provisional figures and explained why.  As the interest element is below my allowance there's no tax to pay and don't expect to have to revisit this.   Even if there is tax to pay the numbers should be relatively small and so I think a fair estimate should satisfy HMRC for the time being.  

Netexporter

I'm assuming it is below the "side hustle" limit even added to my solar export payments.

Exiled_Tyke

side hustle relates to business income.  so should not be relevant. Ripple investors were not allowed to go over the 120% of personal consumption limit.

Income below the limit is treated as bank interest - strange but that's what HMRC agreed.   SEG payments should never really come into tax.  From Google I found this which is useful:   

Coastalwatch

Exiled_Tyke said:

side hustle relates to business income.  so should not be relevant. Ripple investors were not allowed to go over the 120% of personal consumption limit.

Income below the limit is treated as bank interest - strange but that's what HMRC agreed.   SEG payments should never really come into tax.  From Google I found this which is useful:   

Thanks for this additional info ET.

Following almost a month with zero generation showing at Graig Fatha turbine, when I've had no idea if it was down or simply a comms issue then with thanks to the FB (former) Ripple Energy Coop group, the site is now showing last months generation upto date. As a bonus GF returned a stonking 49.4% capacity factor, for the month, the second highest since commissioning in March 2022.

Still no idea when payments will start again but for now it's good to know GF is still adding to the renewables tally.

QrizB

For everyone's info, I emailed the Kirk Hill co-op and heard back almost immediately.

All the income you received from Kirk Hill via your energy supplier should be declared as interest along with all other bank interest 

That's clear and straightforward.

Netexporter

I wonder if it is possible to put one's share into a SIPP? I assume the "interest" would then be tax free.