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Hi all. A set back today but the trend since August 18th is still intact. I'm hoping this rise will lead to the gap being filled and SP above 850. SP could go lower to 750 and bounce off the trend line.
Richards Bay still above $132 and on a similar trend since August. SP was above 880p in April last time at these coal prices.
OK thanks fromage, I see what you are saying. I also agree with you re payback and an unwillingness to get involved beyond the (easy for them) W8-BEN for the USA & Canada. It's still frustrating though, considering the standard platform charge of 0.45% with HL puts them towards the top end cost-wise and they're still not meeting their customers needs in this regard.
Fromage, I agree.
The companies we trade through will concentrate their resources on where most shares are traded. So they may do WHT reclaim for USA shares as its a large market. Overseas buyers of SA shares is a small market, so its not worth changeing their systems to accomodate.
If holders of shares feel the reclaim the 10% of the WHT is important they need to hold the shares in their own name.
Personally I sell just before the div and buy back after, as the sp will usuall fall by the gross Div amount, not the net div amount, as most shares do. Remember, in most companies the sp just before a div payment includes the div value.
It's up to customers to seek out the best company that suits their particular tax situation. Companies will always try to dontheir best for a) profits , b) customers.
Krusty, I know, you have. The point I was trying to emphasize is that in reply to "apparently they’ve tried several things to get around it but as a nominee holder they can’t do not going to change" by saying the word is "WON'T", not "CAN'T". Ditto AJBell and others. Without change, their IT systems do not know which of their customers' accounts are able to claim double taxation relief, and you would need to complete a certificate of residence form etc in their system. Without that they cannot claim. Changing the broker's systems to do this would not generate them sufficient payback. In my view.
Heaven, doesn't work that way, sorry. Brokers should really point this out at the point when punters are buying shares.
I've posted this from the HL website before fromage, the briefest of searches on their website gives the answer:
"Due to the complexity of the tax regimes in other countries, HL Asset Management will not generally reclaim tax credits on dividends or other income on foreign securities. However, if you have provided us with a valid W-8BEN form, we will claim reduced withholding tax payments from US or Canadian stocks, whenever possible."
If it's listed on LSE, then should there be no WHT in UK?
Yep, I received my divi this afternoon in my 212 account. I have noticed my divi's are paid approx 3 days later than AJ Bell.
But do HL offer reduced withholding tax on USA shares? I think they do, and if so then they can do the same for SA.
The WHT this time was 8.24p so 10% was worth 4.12p. However the spread between selling and then rebuying is a couple of pence. Add on dealing costs and its not much gain. This time I gained much more by selling before x-div and buying back later as the drop in the sp was greater than even the gross dividend.
I spoke to HL this morning about the 20/10 position, apparently they’ve tried several things to get around it but as a nominee holder they can’t do not going to change
My broker with Investec charges me 0.6% (the ISA is over £1m). It was supposed to go up to 0.8% a few years back, but he waived the increase, partly as it's a fairly inactive portfolio (mostly just reinvesting dividends in existing holdings) and partly because I've been with them since it was Carr Sheppard's, and my late father started out with Henderson Crosthwaite way back when. You get what you pay for.
And yes, obviously you can't transfer between a SIPP and an ISA, so I'm buying TGA in ny ISA when funds become available, and selling in the SIPP at the same time. Very minor dealing costs, certainly compared to the gauging of the 20% v 10% divi tax.
The 212 boys are having a boozy lunch on the table next to me as I type.
I asked them "On your website you say "Please note that you cannot buy or hold overseas shares in an X-O account" and I would like clarification on this. RIO and BHP are Australian, but are traded in London, are they OK? Thungela is South African, and traded here - the same? Microsoft CDIs are OK?"
The reply was a curt "CDI lines can be held in ISA but not domestic lines." which is not exactly informative, a bit of a downer. I am also reading/inferring that Jarvis may not have the financial stability I would want for a long term future, but no platform can guarantee that. Thanks Littleaston, I will try a trading account. Stamp duty discourages wholesale platform changes.
Jczert, I'd message their support.
Strongly suggest switching to a better broker, too.
Hi all.
I’m awaiting my dividend payment. Anyone else with Trading 212?
Thanks
Fromage,
TGA is listed on LSE, so as long as that is the case, you will be able to buy.
Thanks Littleaston, their charges are half the ones I pay and I shall probably be opening an XO account. "Please note that you cannot buy or hold overseas shares in an X-O account" it says, which is a shame, as it cuts out TGA and others, does it not? Yet you say that you do ?
Picstloup
You can't transfer shares in a SIPP to an ISA. Are you just selling your shares in the SIPP and buying with other money in your ISA. I suspect the difference between the sell and buy of the shares may wipe out any gain.
Please aloborate.
EdwardSeaton
The broker is irrelevant unless you are planning to move. I have posted my broker, no, it is not a secret. The SIPP, I pay an annual charge of £120, which I forgot to mention. My Children have Sipps with them, as they took them out some time back, they are not charged am annual fee.
By the way they are execution brokers, probably one the cheapest on the market, £5.99 a trade, no other fees, I have a trading account, ISA account and SIPP.
Have used AJ Bell, expensive and useless
Interactive Investor, very good, but expensive
Mimbrit
Broker is Jarvis XO sharedealing.
It seems from what I can find that Investec charge 1.5% per annum for ISAs up to £1M, and for me that would way more than I would gain by saving 10pc on the TGA dividends :(
Yeap, 20% wht.