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23 Jan 11
18:25
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Date Joined:
22 Feb 09
I have nearly used all my allowance. On what profit will I pay PC?
The way I bet I hardly ever lose and bet on only one market. Don't make much, about £100 pw.
The way I bet I hardly ever lose and bet on only one market. Don't make much, about £100 pw.
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So I will that on any profit once my allowance is used up?
pretty much.
actually, it's a bit less than a quarter. they round it up to 20% of your gross profits, so assuming you're on 5% commission, they'll halve that and charge you the rest - ie 17.5%.
actually, it's a bit less than a quarter. they round it up to 20% of your gross profits, so assuming you're on 5% commission, they'll halve that and charge you the rest - ie 17.5%.
On any given week it can be more than 22.5 % - so above post is not factual.
Does anybody on 5% commission actually pay the PC ?
ss, I would think that the vast majority of PC payers are in the 4 - 5 % commission range.
Im on 6% not quite sure how all this works?, hopefully I will be paying it this year
4.6% and pay PC just about every week. To the OP I guess you'd pay on average around £15 a week PC.
3.2% and paying. £2,772.99 is my PC bill for January so far.
When it was introduced in 2008 I paid it while I was close to 5% though.
When it was introduced in 2008 I paid it while I was close to 5% though.
I pay 4.7% and am in profit. Was rather more in profit tbh a couple of months ago. Somebody posted a link to how your own PC is worked out. It looked as though I should have been paying it ( I tend to lay and trade a bit ) but it appeared they had crossed certain things out as not being applicable. I assumed that was because I am obviously a small player.
The Forum Breader,
I would have thought that your query would have been covered in the 450 responses you received to the similar question you posed on 08 October 2010; 19:26 ('Premium Charge Question' thread)?
I would have thought that your query would have been covered in the 450 responses you received to the similar question you posed on 08 October 2010; 19:26 ('Premium Charge Question' thread)?
Is it possible for you to pay more than 22.5% of gross profit in a week where you pay the pc? I thought it wasn't but happy to bow to any superior knowledge if there is a situation where this can arise.
Yes it is possible for a pc payer to pay more than 22.5% of their weekly gross profit in charges. The maximum is 26.875% in any given week in which you could still be subject to the premium charge.
Consider the following example:
Total Wins: £1000
Total Losses: £810
Gross Profit: £190
Commission Paid (assume 5% rate): £50
Implied Commission = (0.03*810) = £24.30
Commission Generated = (50+24.30)/2 = £37.15
Other Charges: £0
Total Charges Generated: £37.15
Total Charges Generated/Gross Profit = 37.15/190 = 19.553% (to 3dp)
Premium Charge = (0.2*190)- 37.15 = £0.85
Total Charges Paid (including pc) = 50+0.85 = £50.85
Total Charges(including pc)/Gross Profit = 50.85/190 = 26.76% (to 2dp)
In the thread I referred to in my post above, The Investor provided a table giving the minimum and maximum charges that can be paid by anyone subject to the pc in any given week depending on their commission rate. I will copy it into this thread in a minute.
Consider the following example:
Total Wins: £1000
Total Losses: £810
Gross Profit: £190
Commission Paid (assume 5% rate): £50
Implied Commission = (0.03*810) = £24.30
Commission Generated = (50+24.30)/2 = £37.15
Other Charges: £0
Total Charges Generated: £37.15
Total Charges Generated/Gross Profit = 37.15/190 = 19.553% (to 3dp)
Premium Charge = (0.2*190)- 37.15 = £0.85
Total Charges Paid (including pc) = 50+0.85 = £50.85
Total Charges(including pc)/Gross Profit = 50.85/190 = 26.76% (to 2dp)
In the thread I referred to in my post above, The Investor provided a table giving the minimum and maximum charges that can be paid by anyone subject to the pc in any given week depending on their commission rate. I will copy it into this thread in a minute.
The Investor
Commission Rate (%) Max charges paid Min Charges Paid
5 26.9% 22.5%
4 24.6% 22.0%
3 21.5% 21.5%
2 21.0% 17.2%
* I have included my correction of his typo for the maximum figure for someone on a 5% commission rate (belatedly acknowledged [;)]).
Commission Rate (%) Max charges paid Min Charges Paid
5 26.9% 22.5%
4 24.6% 22.0%
3 21.5% 21.5%
2 21.0% 17.2%
* I have included my correction of his typo for the maximum figure for someone on a 5% commission rate (belatedly acknowledged [;)]).
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