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Thanks Bismarck and Redtom. I live in Ireland and from looking at the double taxation agreement between Ireland and U.S. , Article 10 reads more or less the same as in the UK /US treaty with the EXCEPTION that pension funds are excluded from the Ireland / US article. Which implies that 15% dividend withholding tax on my DEC dividends applies. HOWEVER, my Irish pension provider has contracted out the self-directed portion of my pension fund to Stocktrade (Alliance / Embark) in the UK and this broker is applying the 15% tax to all of my U.S. dividends!. The plot thickens. Sorry for boring anyone for whom this is not an issue!
Thronegames, I hold this in 2 Sipps, II and AJ Bell and pay no withholding tax in either. US treasury respects the tax free status of pension funds but in all other situations I would pay 15% withholding tax as a British citizen.
No I meant by middle of next week, I was hoping for 110p closing price yesterday, but only reached 108p.
However America closed 112p equivalent, so expecting somewhere close to 115p today
Plus oil price is boooming
TSSZ
"Well I did say buy before America opened, you still got 10 minutes
This is going back to 120 to 130 range."
I hope you didn't mean today?!
Well I did say buy before America opened, you still got 10 minutes
This is going back to 120 to 130 range
I am buying at £1.02 or less, I think the mines could be put to good use in another fashion,
possible they might have the same Idea.
No problem. It is what I did for a living for 30 years!
Redtom. Thanks for taking the time to look into this. I am in Ireland so I have to find the Irish equivalent! Anyway, much appreciated.
Thronegames,
Essentially Article 10 is about how dividends should be taxed.
3. Notwithstanding the provisions of paragraph 2 of this Article, dividends
shall not be taxed in the Contracting State of which the company paying the dividends
is a resident if the beneficial owner of the dividends is a resident of the other
Contracting State and either:
(b) a pension scheme, provided that such dividends are not derived
from the carrying on of a business, directly or indirectly, by such pension
scheme.
Thronegames, look up the double tax treaty between UK and US. Article 10, sub section 3 (b)
Bismarck, am I correct in concluding that you do not pay Dividend Withholding tax in your SIPP? (i.e. you are not referring solely to Income tax and CGT?). I am having difficult conversations with my broker over DWT. I'm trying to identify what tax legislation covers the protection of dividends from DWT in a pension fund.
Buy before the American market opens, coz DEC always goes up when they open
The American's know a bargain when they see it and DEC is the biggest bargain out there
Bismarck, well said, I think no real investors would be selling at these levels.
Furthermore, since I don't see this as a growth share I'm just happy with the >£5K/year tax free divis I get from this in the SIPP. Actually topped up yesterday. My £10K loss (same as yours) due to 20% drop in SP yesterday is just a number on a piece of paper in the short term. In 10-20 years when or if I need to sell who knows the value? I'll have made handsome divis in the meantime I'm sure.
For growth I invest in SMT, not DEC
Bailing out as a result of some bad media coverage is just a sure way of locking in losses. At circa 10% divi if you were a long term holder you would not really be too concerned about short term SP anyway?
Highroller "Not a old pipe sticking out in a Forrest or someone's field."
I think thay maybe capped well.
Anyone know if that's correct?
Highroller "Not a old pipe sticking out in a Forrest or someone's field."
I think thay maybe capped well.
Anyone know if that's correct?
What does it matter how the company gets its gas? As long as the volumes are there.
mmmm - investment advice from someone who has just lost £10k plus and admits to having done the same before!
Thanks but no thanks.
Buy high, sell low is not a sound investment strategy.
I closed my huge position yesterday. I took the loss of 10k+. I've been in such positions before and basically, just get out and find 1000+s different possible investments for your money.
Bad news for a company doesn't fix itself overnight. I can't see how this is going to be fixed anytime soon. The report basically attacked their whole business model. I thought a gas well was some massive rig system ... Not a old pipe sticking out in a Forrest or someone's field.
If you stay in your going be checking every single pip movement and get totally and utterly stressed to the max. I've done that before and stayed in the bitter end. E.g. RBS.
I thought it was a good company too, I lost out. Just get out, move on.