The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Thanks for the response adv11 - I will update when I find out what HSBC tell me, but agree with you, leaves a sour task when some are only taxed 15%. THIS CANNOT BE RIGHT!!!!
Just to confirm, I had a year long battle with Halifax/Lloyds/Iweb over the 30 percent tax I was paying in my ISA.
DGOC were great, they told Computershare to help me solve the problem, but they didn't want to know and were totally evasive. I spent hours and hours trying to find the answer, which was that some brokers do not actually have the authority in place to deal with the tax (and have no intention of getting it). It seems if DGOC were listed in the US, it could be dealt with but being listed in the UK (AIM or Main) brings in some added problem.
I received compensation for the tax I had been paid, with the proviso that I would be paying it in future, and now accepted that. So I bought more shares to cover the tax. Still leaves a sour taste. I guess HSBC have the same problems.
I have mine in an IG markets ISA and get 15% taken off that. They've botched it once or twice taking 30% and corrected it before I noticed but seems to be without issue now. I think it depends on your provider whether or not you get 15% or 30%, based on previous discussions on this board
Thanks riky1.1 - I have them in an HSBC ISA, dividends paid in £, and have had 30% removed from each dividend payment. I have spoken to my bank AGAIN this morning and they are checking the taxation rules. An 8% divi is nice, but 12% is nicer
Uk holders (with completed W8BEN) pay 15% witholding tax in an ISA and 0% in a SIPP, i have held these for year and half and no issues with dividends (at HL) I spoke to HL last week to see if moving to main market would make a difference but they seem to think that as earnings are US based and paid in $ then will stay as is
I've been building my holdings for over a year, currently 25k, have completed W8BEN to enable purchase and hold in my ISA, but still pay US TAX OF 30%. Am I missing a trick here, or is it the same for others??