Bad beat/Moaning/Venting thread - It's the end of the world as we know it

[zuutroy]

Seems pretty late for that! Is any of the stuff you ordered on general sale yet? The stuff I ordered popped up on the website a couple of weeks before I was invoiced.

[Solksjaer!]

Spurs are the most Spursie team in the Spursiverse


Pray for Hotspur

[Lao Lao]

Seems pretty late for that! Is any of the stuff you ordered on general sale yet? The stuff I ordered popped up on the website a couple of weeks before I was invoiced.

One of them is not up for general sale yet from what I can see.

Will drop them an e-mail in the morning to see what's going on.

[Mellor]

Anybody have a decent understanding of the tax implications when somebody becomes a company director with an equity share? Including implications on retirement. Talking about capital rather income taxes.

Say somebody joins a company as a director, and is awarded a 10% share in the company.
10 years later they retire and sell their share back to the company for $600k.

Q1. Is the acquisition of shares considered a gift and therefore subject to CAT? Or is it considered income or anything else?

Q3. Do the existing shareholder(s) pay CGT on the disposal of shares to the new director? Even though they are disposed of for €0 as this is below market value?

I assume there are some sort of tax relief schemes for those situations. But can’t quite figure it out.
It just seems that it’s highly unlikely that they’d charge tax on the disposal, acquisition, then subsequent disposal. If there was one. But then again, Irish CGT is excessive in general

[Murdrum]

John Murdoch with another good thread, I’d guess West Virginia line here with a reasonably high correlation to what GoodLuck shared the other day regarding opioid issue.

More in the whole thread but I thought this graph was particularly telling:

TBF, this one is probably even more frightening:

[Dice75]

Ah Gimmeabreak

[shrapnel]

those graphs remind me of this website. some great ones on there

https://www.tylervigen.com/spurious-correlations

[dobby]

Mellor that €150 PLO is showing as cancelled on the website

[limpwhacker]

Ah Gimmeabreak

Well done GAB

[Keane]

En Primeur wine?

I haven't got word of mine shipping yet. They were a bit late shipping last year as well.

2022 releases should start coming out in the next month or so.

Ah man I spent so much time clicking around about this stuff last year but eventually forgot to do it. Will ye let me know when the time is right to start picking stuff out this year please?

[Mellor]

Well done GAB

[Raoul Duke III]

Well done GAB

What's he done well?

[Lao Lao]

Ah man I spent so much time clicking around about this stuff last year but eventually forgot to do it. Will ye let me know when the time is right to start picking stuff out this year please?

No problem, they usually start to be released around the first week in May with most out within 2 - 3 weeks but there are sometimes a few stragglers that run into June.

I'll ping you a message when I start to see them come out.

Do you know what you want to get?

[elbows]

Masters dart landed on Mito Periera. 100/1 ew T10. Debutant so has no chance of winning and he’s a Liv head but has been doing well on Liv and was playing well on PGA tour before that. Nearly won the PGA last year so won’t be overawed. DG has him at 22 in their rankings and his overall game should suit here. He’s also a much better putter on Bent greens.

[The Istanbul]

Yes-very well done GAB-chopped first event of IO for c.€15k.

[The Istanbul]

Anybody have a decent understanding of the tax implications when somebody becomes a company director with an equity share? Including implications on retirement. Talking about capital rather income taxes.

Say somebody joins a company as a director, and is awarded a 10% share in the company.
10 years later they retire and sell their share back to the company for $600k.

Q1. Is the acquisition of shares considered a gift and therefore subject to CAT? Or is it considered income or anything else?
DEPENDS ON COMPANY VALUE AT TIME OF AWARD. IF >0 THEN A CAPITAL GAIN SO CAPITAL GAINS TAX NOT INCOME TAX

Q3. Do the existing shareholder(s) pay CGT on the disposal of shares to the new director? Even though they are disposed of for €0 as this is below market value?
IF THEY ARE DISPOSING OF SHARES AT A PROFIT THEN YES. IF A NEW SHARE ISSUE THEN NO.

I assume there are some sort of tax relief schemes for those situations. But can’t quite figure it out.
YES.
It just seems that it’s highly unlikely that they’d charge tax on the disposal, acquisition, then subsequent disposal. If there was one. But then again, Irish CGT is excessive in general

Are you talking Ireland?

[shrapnel]

Masters dart landed on Mito Periera. 100/1 ew T10. Debutant so has no chance of winning and he’s a Liv head but has been doing well on Liv and was playing well on PGA tour before that. Nearly won the PGA last year so won’t be overawed. DG has him at 22 in their rankings and his overall game should suit here. He’s also a much better putter on Bent greens.

Personally gone for Cantlay, Im and Morikawa

[eoghan104]

Does anyone know where I could find information on how many levels are played on day 1's in the IO sides? I specifically want to know about the €350 6 max PLO on Saturday. Can't see anything on the site.

[Mellor]

What's he done well?

Seems like he took home event 1 - 6-max HE

https://irishpokeropen.com/live-updates/?selectedYear=2023&selectedEvent=3414E8042B704247B30D7E4273BC966E

[Mellor]

Are you talking Ireland?

Yeah, in Ireland. I think I’ve an idea how it could work for the recipient. But the disponer and CGT liability is unclear.

[Solksjaer!]

Gone for Speith

[Keane]

No problem, they usually start to be released around the first week in May with most out within 2 - 3 weeks but there are sometimes a few stragglers that run into June.

I'll ping you a message when I start to see them come out.

Do you know what you want to get?

I was going to wait a few weeks to admit that I also wanted you to pick it out for me

[Raoul Duke III]

I was going to wait a few weeks to admit that I also wanted you to pick it out for me

Can I jump aboard this train too? Feels like something I should have done years ago.

[Theresa]

Smith, Homa, Reed.

[zuutroy]

I was going to wait a few weeks to admit that I also wanted you to pick it out for me

How much are you buying? Worth bearing in mind that you probably shouldn't touch them for at least 5 years.

[limpwhacker]

Rory in a hack canter

[Murdrum]

Smith, Homa, Reed.

Saw this the other day regarding Homa. Seems primed for a major, it’s just a question of whether it’s this one.

I want to take Rory but just so short. Homa, Fleetwood, Schauffele, Im

[Degag]

Think Rory could do it.

My slightly outside bet is Cam Young. Playing some nice stuff at the moment.

[shrapnel]

Can I jump aboard this train too? Feels like something I should have done years ago.

i bought a case of 2021 Château Phélan Ségur, St Estèphe, Bordeaux last year en primeur for a friends 50th . won't be ready for at least 20 years , and we'll probably drink it together anyway when we're 70. feels like a win win

[zuutroy]

i bought a case of 2021 Château Phélan Ségur, St Estèphe, Bordeaux last year en primeur for a friends 50th . won't be ready for at least 20 years , and we'll probably drink it together anyway when we're 70. feels like a win win

I've a single bottle of the 2015 in my wine fridge. Lots of stuff that I have no memory of where or when I bought them.

St Estephe and St Julien are probably my favourites.

[shrapnel]

I've a single bottle of the 2015 in my wine fridge. Lots of stuff that I have no memory of where or when I bought them.

St Estephe and St Julien are probably my favourites.

definitely my favourites too. i've drunk this wine numerous times in older vintages as well. 2021 is expected to be a very good one, and i love the thought of enjoying drinking them in 20 years

[DeadParrot]

What's the site for this 20 year wine??
May have landed a 5 figure tender side hustle so need to be prepped for blowing it on wedding wine for the 7 year old

[zuutroy]

https://www.millesima.ie/en-primeur-wines.html

[Raoul Duke III]

Trump being charged now.

[Raoul Duke III]

Trump being charged now.

Jesus, he must be el busto if those lawyers are the best he can afford.

[ComradeCollie]

Jesus, he must be el busto if those lawyers are the best he can afford.

Be careful of what you wish for. I see him doing a Bobby Sands, though hopefully a less dirty protest.

[Solksjaer!]

Be careful of what you wish for. I see him doing a Bobby Sands, though hopefully a less dirty protest.

He wouldnt last 10 minutes wothout a big mac

[Lao Lao]

I've a single bottle of the 2015 in my wine fridge. Lots of stuff that I have no memory of where or when I bought them.

St Estephe and St Julien are probably my favourites.

The 2017 Château Phélan Ségur is reduced from €72 to €57.60 at the minute as part of the O'Brien's French wine sale.

Turns out one of my wines hasn't arrived from the vineyard yet and won't arrive until late May/early June and then all will ship together.

[Lao Lao]

I was going to wait a few weeks to admit that I also wanted you to pick it out for me

Yeah, no bother. Let me know your budget and I can run through a few things with you when they get released. Below is what I ordered last year, 6x12 bottle cases. Total cost was just over 1300 quid plus VAT & Duty which needs to be paid next year before delivery.

There was a change to the French tax code effective Jan 1st so the 2022 En Primeurs will need to have VAT paid up front, not sure if that includes the Duty as well but either way, it'll be a slightly bigger outlay up front.

Out of the below, the Francs Magnus is the Tuesday wine. Two wines (Leoville and Gruaud Larose) are the 2nd wines of St Julien Second Growths and the other two, Fourcas and Gloria are two wines I really like so always pick them up. All bar the Tuesday wine will be tucked away for anywhere up to 10 years.

2021 En Primeur.PNG

[Degag]

Jesus, he must be el busto if those lawyers are the best he can afford.

Well, he's sacked quite a few of them, so considering there is probably a large contingent who wont represent him, he is surely reaching the bottom of the barrel!

[Solksjaer!]

I trust given the amount of various wankery going on eg Wine Wankery . That its time to allow some music Wankery. Some classic from recentish that ive been indulging in lately.

[Solksjaer!]

[NewApproach]

Anybody have a decent understanding of the tax implications when somebody becomes a company director with an equity share? Including implications on retirement. Talking about capital rather income taxes.

Say somebody joins a company as a director, and is awarded a 10% share in the company.
10 years later they retire and sell their share back to the company for $600k.

Q1. Is the acquisition of shares considered a gift and therefore subject to CAT? Or is it considered income or anything else?

Q3. Do the existing shareholder(s) pay CGT on the disposal of shares to the new director? Even though they are disposed of for €0 as this is below market value?

I assume there are some sort of tax relief schemes for those situations. But can’t quite figure it out.
It just seems that it’s highly unlikely that they’d charge tax on the disposal, acquisition, then subsequent disposal. If there was one. But then again, Irish CGT is excessive in general

A standard approach would be for the company to issue new shares to the individual, rather than existing shareholders transferring their existing shares. That is needlessly complicated and inefficient from a tax perspective.

That award of shares to that individual would most likely be an income tax event. The valuation applied to those newly issued shares is key, and quite subjective. There are some reliefs and schemes which can apply to further mitigate this upfront tax.

It’s all quite complex and I’d suggest getting proper advice on it to avoid pitfalls.

[Theresa]

Think Rory could do it.

My slightly outside bet is Cam Young. Playing some nice stuff at the moment.

Im a massive Rory guy, despite my posts here. AND a maaaasssssssive Cam Young guy, he has the best swing on tour at the moment imo. His putting is awful. Same as Rory. I just don't think his putting holds up under pressure.

Given the forecast though, this IS rorys best chance.

[Goodluck2me]

A standard approach would be for the company to issue new shares to the individual, rather than existing shareholders transferring their existing shares. That is needlessly complicated and inefficient from a tax perspective.

That award of shares to that individual would most likely be an income tax event. The valuation applied to those newly issued shares is key, and quite subjective. There are some reliefs and schemes which can apply to further mitigate this upfront tax.

It’s all quite complex and I’d suggest getting proper advice on it to avoid pitfalls.

Was thinking along the same lines, but best to get professional advice as has implications for all shareholders.

[Degag]

Im a massive Rory guy, despite my posts here. AND a maaaasssssssive Cam Young guy, he has the best swing on tour at the moment imo. His putting is awful. Same as Rory. I just don't think his putting holds up under pressure.

Given the forecast though, this IS rorys best chance.

I thought he putted quite well in the matchplay but then again i reckon the Augusta greens are a very different prospect.

[DeadParrot]

I trust given the amount of various wankery going on eg Wine Wankery . That its time to allow some music Wankery. Some classic from recentish that ive been indulging in lately.

Must be time for another Music King soon enough.
Can't wait to have my picks taken apart again, no respect for classics around here

[6starpool]

They should change the commonly used, yet nonsensical phrase regarding cake to something more realistic given the conversation here.

You can't have your wine and drink it too. Not for 20 years at least.

[Denny Crane]

Why do you need a referral for a Dexa scan? Seems like something you should be able to get on demand.

[Murdrum]

Why do you need a referral for a Dexa scan? Seems like something you should be able to get on demand.

I don’t think it’s always the case unless they’ve changed some criteria.

I know numerous people who have done them - one in my house atm - and they didn’t require a referral.

[Lao Lao]

They should change the commonly used, yet nonsensical phrase regarding cake to something more realistic given the conversation here.

You can't have your wine and drink it too. Not for 20 years at least.

It's all about planning really.

If you are into drinking decent wine that is ageable you have to start at some point to buy now for later. There is an initial investment required but it does pay dividend as the wine you buy now and drink in x years time will generally be way cheaper now plus it's quite possible that it might not even be available to purchase further down the line, such is the demand.

An example is the 2021 Chateau Gloria that I posted above - That is €33 plus VAT & Duty so it'll work out at about €44/45 a bottle all in. Baggott St wines have the 2017 vintage priced at €95 a bottle which is a little pricey as I've seen other places sell the 2018 in the €72 - €77 range. Even at the lower end of the retail price, there is a good saving to be made.

While the stuff I buy is decent, I'd be in the hapenny place compared to what people can and do spend on wine.

[Raoul Duke III]

My intensive study of the Masters has led me to the pick of Max Homa. Call me a homasexual if he wins.

Decided his name just isn't stupid enough so switched my loyalty back to Xander. Berate me Sunday if Homer wins.

[6starpool]

It's all about planning really.

If you are into drinking decent wine that is ageable you have to start at some point to buy now for later. There is an initial investment required but it does pay dividend as the wine you buy now and drink in x years time will generally be way cheaper now plus it's quite possible that it might not even be available to purchase further down the line, such is the demand.

An example is the 2021 Chateau Gloria that I posted above - That is €33 plus VAT & Duty so it'll work out at about €44/45 a bottle all in. Baggott St wines have the 2017 vintage priced at €95 a bottle which is a little pricey as I've seen other places sell the 2018 in the €72 - €77 range. Even at the lower end of the retail price, there is a good saving to be made.

While the stuff I buy is decent, I'd be in the hapenny place compared to what people can and do spend on wine.

I understand wine drinking as much as I understand HJ's music. I'm glad various people get enjoyment from all these things, but they go totally beyond my level of comprehension. Each to their own, etc.

[Keane]

Yeah, no bother. Let me know your budget and I can run through a few things with you when they get released. Below is what I ordered last year, 6x12 bottle cases. Total cost was just over 1300 quid plus VAT & Duty which needs to be paid next year before delivery.

There was a change to the French tax code effective Jan 1st so the 2022 En Primeurs will need to have VAT paid up front, not sure if that includes the Duty as well but either way, it'll be a slightly bigger outlay up front.

Out of the below, the Francs Magnus is the Tuesday wine. Two wines (Leoville and Gruaud Larose) are the 2nd wines of St Julien Second Growths and the other two, Fourcas and Gloria are two wines I really like so always pick them up. All bar the Tuesday wine will be tucked away for anywhere up to 10 years.

2021 En Primeur.PNG

Nice one thanks a lot for the tips. How long do you age the Tuesday wine or is that for immediate consumption?

[Opr]

Why do you need a referral for a Dexa scan? Seems like something you should be able to get on demand.

See Perkins gave Shaun Deeb 10-1 on a Bodyfat loss bet last week. He has to get down from current stats to 17% bodyfat over the course of a year. 100k to Bill's 1 million. He is around 6ft and over 300 pounds atm and estimates he is currently 45%. He is getting a Dexa scan this week to confirm the starting number.

[Lao Lao]

Nice one thanks a lot for the tips. How long do you age the Tuesday wine or is that for immediate consumption?

Tuesday wine is drank straight away (just not all 24 bottles in the one sitting ) although it would be fine to keep it for a year or two. The last few years, all in price for it has been coming in around €12-13 per bottle whereas something of similar quality from a off license would generally be in the €17 - €22 range

[Mellor]

A standard approach would be for the company to issue new shares to the individual, rather than existing shareholders transferring their existing shares. That is needlessly complicated and inefficient from a tax perspective.

That award of shares to that individual would most likely be an income tax event. The valuation applied to those newly issued shares is key, and quite subjective. There are some reliefs and schemes which can apply to further mitigate this upfront tax.

It’s all quite complex and I’d suggest getting proper advice on it to avoid pitfalls.

Cheers. I’ve already recommended anything strategy is finalised with a professional. Just trying to get an idea of options at this prelim stage.

New shares seems like it would eliminate the CGT for the current shareholders.
The acquisition would be a tax event. But it seems like the below could apply. Voting rights would need to be structured to suit. But CAT would reduce by 90%

https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-reliefs/business-relief/index.aspx

[Denny Crane]

You have me sold Lao Lao.

So the next window is May?

[Lao Lao]

You have me sold Lao Lao.

So the next window is May?

Yeah, they usually start to release them around the first week in May

For just a small fee, you, like many others, can sign up to Lao Lao's Luscious Liquid Alerts

[RichieM]

What are the chances of Trump having a tiny dick being entered into evidence?

His legal team challenging it?

It then being required that he produce evidence to confirm?