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Spoke to Freetrade 30% taken in error correcting tomorrow so get 15% back then should be 15% going forward.Thanks for help
Not 100% sure, but the W-8BEN might not apply to shares held in a SIPP, just had my divi in the ISA with only 15% taken off, so itās not reclaimed but paid with 15% deducted.
Had nothing but issues with these diviās for a few years, not so much the company but the broker who you are we with.
Interactive Investor have now decided that because divi is declared in $ās, thatās the currency you have to have it paid in, but only in my SIPP, even though they used to pay in sterling.
In my ISA itās paid in sterling because ISAās canāt hold anything but sterling, but the ISA has tax deducted at 15% and the SIPP has 30% deducted.
So have to do an FX currency conversion, obviously at a cost and a loss on the exchange rate. Decided to sell the Sipp shares before the next XD, paid 72p over three years ago at least so done ok, but like to be able to leave some particular shares just to do their thing, and not have to think about them.
Ah I see yes filled in the W-8BEN so hopefully may give me 15% back,Thank you so much for your help.
This is from the H L site. Looks like 30% is what they would normally take but your share dealing platform should be able to claim back 15% once you've filled in the relevant form.
Withholding tax is a tax levied by an overseas government on dividends or income received by non-residents. For example, the US Government charges non-US residentsā withholding tax of 30% on any income received from US investments.
The UK government has double taxation agreements (DTAs) in place with many countries to reduce the amount of tax paid by UK residents. In these circumstances, it may be possible for investors to reclaim all or part of the withholding tax paid. You will need to contact the relevant tax authorities to determine their requirements as these may vary from country to country.
Where possible we will claim reduced withholding tax payments on US and Canadian stocks for investors who have provided us with a valid W-8BEN form.
So as long as you have filled in a W-8BEN form you should get 15% back.
Waiting on them getting back to me is 15% the normal rate then ?
rutts234 I am with H L and I have received my dividend with just 15% tax taken off it so I would query that.
I wonder if anyone coukd help me or point me in the right direction,I just looked at my income statement with freetrade and I have paid 30% tax is this right,I have googled but can't find any information and awaiting answer from Freetrade.