How and when do you take a share of the profit? Is this monthly, on each bet placed or when the money is withdrawn?
A. We share profits at the end of each month. Sometimes slightly early. Depending on how the month has performed. For example, if we're in profit but only slightly, we may stop early to ensure profit for the month. Payments are processed and paid before the 10th of each month. Depending on how much is going out, you’ll normally get paid within 1/2 days.
Is your organisation regulated in any way? If so who and which regulator?
A. We’re not regulated in any way. There's no one to take it up with if you lose money.
What are the tax implications of this?
A. We have been advised that gambling in a syndicate, even if professionally for large amounts of money, is not viewed as a trade and not subject to tax. This is in both the HMRC's own business income manual, and is the advice given to HCo Syndicate by a QC specialising in tax law.
Assuming everything goes well is it a simple process to increase my investment?
A. You may increase your investment at any time. Just drop your account manager an email when you're looking to add additional funds. Funds will then be added with-in 48 hours.