Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
The issues of WHT has been discussed for years on here. I think the consensus is that the only way to recover some of it is to hold the shares in your own name or not through a nominee account. Virtually all of the platforms eh HL hold them through nominee accounts and can't be bothered to reclaim WHT.
Personally I sell just before the last trading day as most of the dividend is reflected in the share price anyway, so it drops aster by around the dividend value.
As always DYOR
Jane
The last thing you wrote about this share was
'As predicted £3 broke. Good luck for the upcoming weeks!
What was your correct call??
Jump up in coal,up 4% this morning richards normally moves the same
Brad that's some predictive text translation
So your saying that
'Soon'
Was translated to
Bryan. What news?
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.
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.
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.
Click on TGA Live RNS and open the 21st Aug titled dividend declaration (it does what is states)
The relevant paragraph for most of us that have to pay the WHT is:
Should dividend withholding tax be withheld at a rate of 20%, the net dividend amount due to shareholders is 32.98 pence per share (Pound sterling) - 41.22 pence gross dividend per share less 8.24 pence dividend withholding tax per share.
So 32.98p per share
Shorters?
Great uptick today. Where is southcoasttrader??
India is going to use more coal in tge next decades
https://www.ft.com/content/fa254791-4034-4258-a12e-9b8b94edadd1
Typo 685. I was remembering a different share I bought.
I'm glad I sold virtually all of mine yesterday, though I bought back some too early today at 850p
@Krusty,
Yes appos, I was in the wrong thread
I agree with you, it's not the dividend issuer that dictates the WHT it's the SA government.
Also it's not up to the board to find a broker for you. If you hold the shares in your name, as opposed to a nominee account you can reclaim through computershare. However I would expect the cost to be higher to hold in your own name
@Krusty. Before you say Rubbish please read again.
I didn't say anything about UK tax or ISA.
I used the gross div ( 41.22p) and the net div (32.98p after the SA WHT) in my calculations.
I Know inside the ISA or SIPP it's free from UK div tax.
Let's say I have 5000 shares.
At 709p they are with £35450
If the share falls by the gross div (41.22p) its 667.98
Therefore 5000 shares = 33339. Diff of 2061
However I get a div of 32.98p /share = £1649.
Difference between possible share value and div = £412.
If I buy back its probably not much difference so I think its a close call as the SP could fall more or less than the div.
It's SA x div day and the SP initially fell over 6.5%.
Slowley recovering now.
I expect a similar reaction here tomorrow. Has anyone done a calculation to determine if its best to sell today or hold. Bearing un mind we small holders will suffer a 20% WHT?