Member Info for Bob_L

I lurk in the background, like a lot of others on here, but try and read daily. I know that MF has been negative in the past re GGP and gold in general, but the link from Rupert Hargreaves today, appears to be more bullish than what I've read in the past. GLA
https://www.fool.co.uk/investing/2020/12/06/the-ggp-share-price-is-rising-heres-what-im-doing/

Ldonald101 - I made my mind up a few weeks ago to keep my average below 20p, although I noticed another poster would top up, up to 30p. I would rather see the SP rise, but if it goes below 20p, then I shall top up. The important thing for me at the moment is to hold for 18 months to 2 years. With the other licenses due to be drilled in the near future, hopefully the future SP will help with a comfortable retirement in 2 years time. Good Luck

Adz, if you've gone back to when Elise was talking about paying off her mortgage, surely you would have found your answers in more recent posts, there's plenty to read to understand the past and future journey. GLA

Sorry EAOW - Re-read it, good luck to you.

Hi EOAW - Have you got a zero missing? GULP

adv11 - It looks like SDV will have to sell DGOC, they target AIM companies which are capitalised at less than £500m

Adv11 – I think the type of account is irrelevant. Your argument is that there is a US-UK treaty which states that as a UK Investor you should only pay 15%. You know of other holders who are with HL & ii for example, where withholding tax is 15%. Your question to them is, “You believe that you are being financially disadvantaged when there is a Tax Treaty in place where you are only obliged to pay 15%?”
You could also ask who is financially benefiting from your additional 15%? I’m sure the IRS don’t require it
Thirdly, you are being treated financially unfairly compared to other UK Investors, if they will not resolve, you can state that you will go to the Financial Ombudsman. I personally don’t believe that they have a leg to stand on

MrG123 – It’s not so much as a broker issue, but who they use as the custodian of the shares, in HSBC’s case HSS. I’m assuming that any broker can use the same?
I opened an HL account a month or so ago and added DGOC into it to test whether 15 or 30% would be withheld. The fact that only 15% is withheld gave me additional evidence that HSBC & HSS had got it wrong. My portfolio is now in the process of moving from HSBC after a year of raising this issue

This was my main argument, the US_UK Tax Treaty
I have also done some digging on the IRS web site and have attached 2 links and noted the key points (in my opinion) from Article 10 Dividends
2. https://www.irs.gov/businesses/international-businesses/united-kingdom-uk-tax-treaty-documents
3. https://www.irs.gov/pub/irs-trty/uk.pdf
a. UNITED STATES-UNITED KINGDOM INCOME TAX CONVENTION
b. ARTICLE 10 Dividends
c. (2) (b) (ii) in all other cases, the tax charged by the United States on payment of a dividend to a resident of the United Kingdom shall not exceed 15 per cent of the gross amount of the dividend

adv11 – Received the following from HSBC today, they acknowledge there is a problem with the 30% tax as shown below. My argument with them was around the US-UK dividend treaty and my entitlement to pay only 15%. HSS are the custodian of the shares for HSBC, if they are all custodian for your broker, you may be in for a pleasant surprise.
The HSS tax team have now come back to say that the assets are held in a UK custody account and tax is paid at source, hence the 30% rate. The team haven’t taken into consideration underlying client tax status and so we’re reviewing whether this needs to move to a US custody account and preferential rates applied. There’s a bit of paperwork to get through on this, and clearly we’ll need to consider financial remediation. Still not resolved yet unfortunately but we are gaining traction.

Thanks JDCBC, I'm having exactly this problem with HSBC and have been waiting 2 weeks for a response. As an aside, the 15% tax is part of the US-UK Tax Treaty. If the IRS only want 15%, what happens to the additional 15% we are paying and why does HSBC not highlight this issue!?

Thanks JDCBC, I'm having exactly this problem with HSBC and have been waiting 2 weeks for a response. As an aside, the 15% tax is part of the US-UK Treaty. If the IRS only want 15%, what happens to the additional 15% we are paying and why does HSBC not highlight this issue!?

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!!!!

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

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??

I've been in and out of HUR for a couple of years, and sit on a modest 10% gain. I'm currently out and looking to enter again, but IMO most on here seem to be over analysing the fall. HUR's future share price is dependant on undeveloped potential, and as such is only an oil producer at the moment. A similar oil company, ENQ, which in part works in the North sea, produces around 70,000 boepd and has a current share price of around 26p. It looks to me like HUR is just realigning itself to it's peers. The attached may be worth a read, sorry if it's been posted previously. https://www.proactiveinvestors.co.uk/companies/news/911851/is-hurricane-energy-the-next-sirius-minerals-the-uk-oil-shares-value-is-rooted-in-undeveloped-potential-911851.html

HH is a fire fighting vessel on it's way to TL, is there cause for concern!?

Centrica holds 69% of Spirit Energy, which is set to release soon results from testing of the keenly anticipated Warwick West well in the UK Continental Shelf potentially moving the needle for an £800mln sale price.

https://www.proactiveinvestors.co.uk/companies/news/907655/centrica--s-problems-underlined-by-npower-retrenchment-907655.html

Thanks for the explanation Ian. I've held my shares for just under 18 months and hadn't come across this before. I'm new to this bb and I'm learning more each day, not just with MTFB, but with a couple of my other growth shares

Thanks again

I hadn't realised that Iclaprim had failed FDA approval back in 2009. But still holding looking for approval. GLA

http://www.rttnews.com/slideshow/3802/fda-botox-frown-lines-absssi-antibiotics-keytruda-pdufa-plaque-psoriasis-gvhd-haemophilia-a-cancers.aspx?Slide=2