The 3 year Rule



  • What happens to your investments at this point, does the cash associated with those 3 years held shares get paid back into your account at the current price , or do you lose it altogether?



  • @NewUser159184 Lose it altogether.

    FI have said they'll set up some form of warning system however I wouldn't count on it. I'd recommend you download your transaction history and track it yourself.

    One thing to note, if you sell a player it will be your earliest purchase that is sold.
    For example - if I bought 50 of a player in August 17, then another 50 in June 18, I decide to sell 50 in Sept 18, the expiry date of the remaining is June 21. Hope that makes sense!!



  • @NewUser159184 if you want to keep those shares, you need to sell them and buy them back. This 3 year rule is required as far as i know.



  • thanks for the replies.
    what happens to your £ at this point ?

    does it get paid back into your account?



  • @NewUser159184 If you sell before the 3 years it will go back into your FI balance. If you let the 3yrs pass you get NOTHING - it's the equivalent of losing a bet.



  • Exactly and otherwise it would not be classified as betting i guess, but as an investment. It make a difference for the tax i guess. I m not an expert, but maybe someone can explain or confirm it.



  • @NewUser38991 100% correct. If there was no time-limit it would be an investment and we'd all have to pay tax on our profits.



  • After 3 years, I think it becomes an investment and attracts tax at 15%



  • It would be good it they could add the length of time you have had your futures in your portfolio



  • I guess some people who were in at the very start will be close to 3 years now. Wonder what effect it'll have on prices as isnt it likely there will be people selling large amounts of players?



  • @NewUser148487 I thought about this too but firstly I don't think there will be too many who were in from day 1 and secondly I think they'll have traded their initial buys 100 times over.

    But the great thing about FI expanding is that a few traders can't really do too much long term damage to a players price.....



  • @NewUser148487 and if someone sells a player because of that rule after 2 years and 11 months he will most likely buy the same player on the same day again.... so it will have no impact on the player price



  • @NewUser38991

    Doing that will lose you around 5% though



  • @NewUser159184 Unfortunately yes but FI need some money ;-D Plus if I'd left it to the last minute and had to IS I'd still rather pay FI 5% than Inland Revenue 18% // 28% capital gain tax.



  • @AT10 fair point



  • @NewUser159184 This is all well and good....but if it takes FI a couple of weeks to send you your transaction history after you've requested it, and in the meantime you have futures that expire??? FI needs to give traders instant access to transaction hitsory if they are going to be so hard and fast with their 3 year rule??


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