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Michael Masterman introduces Saffron Energy to London AIM Market (LON: SRON) Watch here

Michael Masterman introduces Saffron Energy to London AIM Market (LON: SRON)


Plus500 Share Chat (PLUS)



Share Price: 453.00Bid: 453.00Ask: 454.00Change: 0.00 (0.00%)No Movement on Plus500
Spread: 1.00Spread as %: 0.22%Open: 451.75High: 458.75Low: 448.75Yesterday’s Close: 453.00


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justdeezerts
Posts: 71
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:443.25
withholding tax
16 Feb '17
Poolefox - my circumstances were different from yours. I didn't apply to the Israeli authorities for tax relief PRIOR to payment, so my dividend arrived with 25% withholding tax already deducted at source. Accordingly, I was taxed in UK @ 10% rate, but was given a full credit for the 25% tax already deducted - net effect was a 15% tax refund.
 
Poolefox
Posts: 1
Off Topic
Opinion:No Opinion
Price:432.00
Witholding tax
15 Feb '17
See link below and ive checked this with my broker you can reclaim 10% of the 25% withholding tax by getting a tax voucher when they go ex dividend and applying to the Israeli tax authorities before they pay the dividend.Article below confirms

http://www.leaprate.com/news/plus500-dividend-payment-15-tax-to-be-withheld-2/
justdeezerts
Posts: 71
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:436.00
withholding tax
15 Feb '17
Dividend income received (up to maximum of £5,000) is no longer taxable from 6th April 2016. However, according to HMRC website, withholiding tax deducted at source from foreign divis can still be reclaimed from HMRC. This is subject to the foreign country from where the divi is being paid having a double taxation agreement with the UK - Israel does. Since PLUS deducts withholding tax @ 25% it would appear that the entire 25% may be reclaimable instead of the 15% rate, which was in place prior to 6 Apr 2016 - need this point clarified. DYOR
ValueMB
Posts: 179
Off Topic
Opinion:No Opinion
Price:437.25
RE: Wihtholding tax
15 Feb '17
Just to clarify, can I apply for a HMRC rebate the same way even if the shares are held in an ISA?
ValueMB
Posts: 179
Off Topic
Opinion:No Opinion
Price:437.25
Wihtholding tax
15 Feb '17
I am no accountant, and am hoping someone can shed some light on an issue for me:

I hold a small post of Plus500 shares in an ISA. I know that 25% of a little is not much, but can I somehow end up paying less tax (either less to the Israeli government, get a refund from the UK government, or swap it for some of the income tax the UK government takes from me each year)?

Many thanks.
speman
Posts: 113
Observation
Opinion:Strong Buy
Price:418.50
declared dividend
10 Feb '17
2nd March x div 52.84p declared paid July 3ed less withholding tax =39.63p
testpack3
Posts: 1,267
Off Topic
Opinion:No Opinion
Price:423.50
Dividend, and, withholding tax
9 Feb '17
I can only assume the market does not believe the preliminary results as recently published. With a final divi of nearly 15% declared at todays sp, it does look a bit of a steal. For my part, the co has paid out well over $100m in divisover past 2 years, so obviously has the cash. Recently announced new territories of Israel, NZ ans SA will be revenue and profit enhancing. The red flag is the FCA proposals due end this year, however the co states that majority of profit is generated by the spread and therefore ouside of anything the FCA can do. What`s not to like?

I have mentioned this before on this BB, probably, this time last year, that if you have a long CFD on PLUS, the divi is paid without any deduction of tax, and is paid on EX divi date, not pay date. boomm boom. BTW, the shorts on PLUS will have to pay the divi, so I would expect the 2 shorters at present to be redicing their positins in the next few weeks..
justdeezerts
Posts: 71
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:417.50
withholding tax
9 Feb '17
Speman - at least we can agree that the Israeli government are not stealing (which by the way, is different from 'steeling') money from UK RESIDENT investors. Had you declared your tax status in the first place, I may have been more sympathetic to your plight. Finally, it makes no difference what rate of withholding tax is deducted at source - it is more a case of whether you can reclaim any withholding tax to redress the balance. I'm sure Belgium and Israel are the same in that regard. DYOR
speman
Posts: 113
Answer
Opinion:Strong Buy
Price:425.25
withholding tax
9 Feb '17
As a non resident of the u.k. I loose 25% of my dividend. But as I say still a great return on investment. Belgium reg companies withhold 15%. So I do know what I'm talking about.
blackrocktrader
Posts: 743
Off Topic
Opinion:No Opinion
Price:425.00
25%
8 Feb '17
Oh, Great . Thanks a lot .Always learning something new.




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