pomma9649

happy birthday egg..hope you had fun!

Parker Pyne, on 09 July 2011 - 09:34, said:

yes their offer is always time limited for the first so many donations - I always try to get in as soon as I get their notification email...haven't missed yet!

MikeS1531, on 08 July 2011 - 01:08, said:

thanks Mike!!

I have a reply from Tim Farron, my local MP who says:

Thank you very much for your recent email with reagrd to the need for tax amendments to support the expansion of peer to peer lending.
I am fully supportive of this admirable development and am pleased to record that I have already made representations on behalf of your peers to the Chancellor.  This enables me to enclose a copy of the response from the Exchequer Secretary to the Treasury.
Whilst I am disappointed that the Monister is unable to commit to changes at the present time, I am encouraged that he appears open to dialogue on this issue.  I am sure that it has been helpful to draw his attention to the need for change and I hope that he will soon be moved to action.  With best wishes....

and the reply from David Gauke on behalf of George Osbourne  says:

I agree that peer to peer lending is a valuable source of finance. This industry is undoubtedly growing but remains at this time relatively small. As the business expands, or market conditions change, we fully recognise that the taxation treatment of those within the industry may need fuller consideration.  This is especially true as it is likely that the dynamic of the business will evolve and change over time, and therefore so will its role within the competitive loan market.

When considering tax changes to any sector we must fully consider the range of potential impacts any changes may have, including for example, resourcing and compliance, European state aid issues, and broad economic impacts.

As things stand, we do not think that the current tax treatment of peer to peer investors is necessarily a barrier to the growth of the market.  Also, it is unclear why peer to peer investors should be treated  differently to an investor who dabbles in the gilts market (and who is subject to the same tax rules).

However, we would be happy to consider any evidence on this point.  We will of course continue to monitor developments, and welcome your thoughts on this matter.

Please pass on my thanks to your constituent for taking the trouble to make us aware of these concerns.....

ooh..just beaten to it by brummie fred!!

jkh, on 04 July 2011 - 17:30, said:

me too ...there are so many that I could say so many things about..for all sorts of reasons..but I did like the guy with the guitar he was renovating..we were interviewed on the radio together early days!!