Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Yes I noticed I pay 20% on my Sibanye Stillwater Ltd ( USA ADRs ) and my Lonmin shares which were not exchanged for ADRs ( As GWP were when moved to Nasdaq )
My Lonmin trapped in the brokers acc no tradeable as they do not deal on JSE . ( I did get the div also -20% )
What a pity I did not add here when I got the bonus shares in July 2021, looks like they are up 660% since .
Much better then anything I have spent choosing .
Correction:
"Congrats to those that managed a MORE than 240p difference using the sell and buy back."
:-)
With the SP down only approx. 155p on a 240/300p ex-divi atow, it's a good day to be in TGA.
I used my hedged spread bet long system to reduce withholding tax on half of my holding, avoiding exposure to market movements. The result has been to reduce the effective wh tax on that segment from 20% to approx. 4 to 5% after costs. Congrats to those that managed a less than 240p difference using the sell and buy back.
With the next divi around the £4 -5 mark on my current estimates, I'll look to run most of my holding through the system next time.
Fromage, I was referring to certificated shares, which lose their tax wrapper if withdrawn from an ISA.
"Definitely keep them your ISA/SIPP though."
I don't think that makes a difference with respect to SA withholding tax. 20% is deducted in all cases. Nevertheless, any high dividend share is of course best held where you pay no additional tax, so SIPP or ISA, but to sell and rebuy different shares to move their location in a portfolio has costs too, and price movement risks.
Thanks both
CS charged £20 or so. There seems to be no way to do this for shares held in Isa or siip.
HL was free to withdraw certificated Evraz shares, but I assume that was due to the circumstances.
Definitely keep them your ISA/SIPP though.
Richt9999 and crawshaw, thank you for the information.
If you don't mind me asking, what are the costs involved? As when I have found a broker who will allow shares in own name, it has been via a CREST personal membership and an expensive process. Also, is my assumption that they can not be held inside an ISA or SIPP correct? thereby loosing the valuable protection from UK taxes?
Without my ISA wrapper my tax liability on TGA would be horrendous :-)
I've requested a paper certificate from HL too. I know they're now issuing them due to the EVR debacle so am hopeful they'll oblige.
It'll save me ~£8k if it works.
I was with charles Stanley and they have issued a share certificate to me so I am now an individual share holder on the Computershare system. If this approach doesn’t work nothing will!
If individual investor it will be 10%. Tried obtaining share certificate but H&L have stopped that service (as have most large brokers).
Only possible way is to register with SARS, which I am currently doing then try and reclaim using Dividend Confirmation Certificate issued by H&L.
Note Computershare cannot claim WT if held by a nominee.
I will let you know if successful.
Presumably you could withdraw certificated shares from your broker, and apply for the dividend (-10% WT) directly with Computershare but not sure it's worth it.
Presuming you aren't a company owning more than 10% of TGA, you may be able to reduce the rate to 10% if you hold the shares in your own name (rare) not in a nominee account (common). AFAIK, no one has managed to get their broker to allow them to claim the tax back for them, if someone has please can they share the details with the board.
It may be possible to use a spread bet long to avoid all withholding tax, but I can't be certain it would work and it could be very risky.
From the Divi declaration:
Non-South African tax resident shareholders will be paid the dividend subject to 20%
withholding tax for shareholders. Certain non-South African tax resident shareholders
may however be entitled to a reduced rate of dividends tax due to the provisions of an
applicable tax treaty. In the case of UK-resident shareholders, for example, the DTA
allows for
(i) a reduced rate of 5% if the shareholder is a company that holds at least
10% of the capital of Thungela, and
(ii) .a reduced rate of 10% in all other cases
uk investor here... can I reduce the withholding tax to 15% from 20%; and say how to complete the computshare form, i.e which parts in to complete for double tax exemption? any help appreciated.