Rib 4 Macmillan - Page 9

Wibs · 18 October 2013, 06:38

Yes I can....44 to go.

Just a thought, will you need to check (anyone know a good accountant?) whether this is ok to with HMRC.?

I'm self employed, although I don't think think is relevant, but if I had several deposits going into my personal account....it would raise eyebrows.!

Maybe setting up a specific bank account for the donation pot is a way around it...?

All in Whispers name.

Boats&Outboards · 18 October 2013, 06:58

Its too much for one person to loan. What happens if it goes bang half way round who pays back the loan then, will it be insured etc,

Count me in for the £40 though. I'm sure that's the way to go

43 more to find

thetube · 18 October 2013, 07:08

I'm in 42 to go.

The tax position is fine for whoever holds it, they are simply a bare trustee.

ribraff · 18 October 2013, 07:36

Would a 60hp Yammie 2 stroke be too small??

biffer · 18 October 2013, 07:41

I'm in , I have a bank account that we can use, it's offshore and it's fairly empty, we can use it and keep an account of it

chris.moody · 18 October 2013, 08:01

Quote:

Originally Posted by biffer

I'm in , I have a bank account that we can use, it's offshore and it's fairly empty, we can use it and keep an account of it

As soon as the money is in there can you please fly out in a private jet to check its all OK ? :-)

--
Tigga - Avon SR4 Rescue with 40hp Yamaha 2 stroke

biffer · 18 October 2013, 08:03

Had a word with mrs biff about the tax man, it won't matter if we transfer the funds with a name like Macmillan biff, macmillan Alex etc, she can account for it going in and out, the only question is do you trust a grumpy old bugger to hold your money

biffer · 18 October 2013, 08:06

Quote:

Originally Posted by chris.moody

As soon as the money is in there can you please fly out in a private jet to check its all OK ? :-)

--
Tigga - Avon SR4 Rescue with 40hp Yamaha 2 stroke

The jet needs servicing

whisper · 18 October 2013, 11:51

Ian from icom has been busy promoting what we are doing, he has been using their social networking to spread the word about this thread and our justgiving page. Nice one Ian

https://www.facebook.com/Icomukfanpage

Icom (UK) Ltd | LinkedIn

https://twitter.com/icom_uk

Icom UK Blog | Welcome to an alternative look at the world of Icom!

https://plus.google.com/108949095434700003867/posts

chris.moody · 18 October 2013, 12:17

Whisper
Are you in favour of the engine loan idea or not ? I don't want to hijack your rib fundraising task at all.
Chris

whisper · 18 October 2013, 12:27

Quote:

Originally Posted by chris.moody

Whisper
Are you in favour of the engine loan idea or not ? I don't want to hijack your rib fundraising task at all.
Chris

I think it's a great idea, but it will be a lot for someone to administer 50 x £40 loans and then return all the money transferring it back to everyone.

Downhilldai · 18 October 2013, 12:52

+1 so 41 to go.

(Just sold a kayak, so I'm ok for a couple of quid)

chris.moody · 18 October 2013, 12:57

Quote:

Originally Posted by whisper

I think it's a great idea, but it will be a lot for someone to administer 50 x £40 loans and then return all the money transferring it back to everyone.

Surely we just send you 40 cheques to pay in, and next year you write out 40 cheques to pay us back after the rib has been auctioned. Not too onerous. I'll say if you forget to pay me back

Obviously if the rib finally sells for less than 2k we each get less back than our initial loan, that's a risk we all collectively take (I'm happy to take that risk if it potentially enables us to raise lots of money for Macmillan).

RIK · 18 October 2013, 13:08

I'm in 40 to go

Also have we got a anchor yet I have one in the garage
Alex got your p m will post the other bits to you or bring them along when the rib is being worked on

Sent from my iPhone using Rib.net

willk · 18 October 2013, 13:15

It might be useful at this point to estimate what the RIB is likely to sell/auction for. It might make the decisions about loans and engines a little easier...

Boats&Outboards · 18 October 2013, 13:22

Quote:

Originally Posted by willk

It might be useful at this point to estimate what the RIB is likely to sell/auction for. It might make the decisions about loans and engines a little easier...

its not so much what its going to be worth but what use it gets. Going "round Ireland" (or whatever it does do) would put an older engine under a lot of strain, which might kill it off, as could how its helmed etc.

Projects like this will never return full value, as the boat will still be a older SR at the end of the day which has a top value regardless of what you do to them. www.BoatsandOutboards4Sale.co.uk

Ian M · 18 October 2013, 13:23

I'm in.
39 to go.

willk · 18 October 2013, 13:24

Quote:

Originally Posted by Boats&Outboards

Projects like this will never return full value, as the boat will still be a older SR at the end of the day which has a top value regardless if what you do to them.

Which is why I was wondering if it made financial sense to actually purchase any of the components at or near market value?

SPR · 18 October 2013, 13:41

Quote:

Originally Posted by willk

Which is why I was wondering if it made financial sense to actually purchase any of the components at or near market value?

Unless the Money is a donation instead of a loan?

whisper · 18 October 2013, 13:42

After a long chat with Biffer he is going to pop into the bank to ask a few questions