@ Dickie : "Are you short of this stock?" LOL. I have piled more into this share than I have ever done in all other investments bar one. My last purchase was last month. I have not sold any, but at this depressed price my profit (if I sold) is nearly double the cost (ignoring inflation). I expect to hold for years yet. My post was merely attempting an explanation for the lack of enthusiasm of others, answering the question posed by the subject title.
Indeed, I probably daren't sell until a new government cuts the capital gains tax.
Casual reading of the RNS gives a negative impression. "rising challenges, increased incidents, performance continued to deteriorate, further exacerbated, partially mitigated, resulting in a loss, discounts have widened, sales expected to be a decrease of 14%, closing mines, higher costs" ... etc etc
Even if that is not depressing enough to make you give up, and you move on to the table of figures, all the forecasts are about 20% down.
Finally, I am sure there is a thought that even if at the end of it there is some money, with the track history of government embezzlement it may never see the light of day in the outside world.
Sipp, Isa or plain full taxed, it makes no difference as the tax is deducted in South Africa, and TGA does not even know who the individual beneficial holders are, let alone how they are held. If TGA knew who we were, there would be no (well, only half of the) withholding tax, and that is the problem.
Toad - I am sure HL holders reported the same, but look at your dividend pdf that you downloaded. You will see 2 figures for payment and tax. It does not mention withholding tax, but your payment will be 4 times the tax figure, and that tax is the 20% SA tax.
I say thermal coal currently has no commercially practical alternative and not likely to be for a long time. Both types of coal have their uses, and both types are made investment bargains by the lunatics who are dragging their countries down. In a more sensible society they would be put away until they grow up, not pandered to.
I have been in touch with the Raiffeisen Bank with regard to forced conversion into Russian shares held over there, a hell of a complex and expensive rigmarole involving life history, passport, notarised translations into Russian of everything, but they will not even give any info on charges to open a repo account for me, nor selling them, and there is certainly no chance of getting any money out of the country. Dead and buried along with Gazprom for UK. Thanks Rishi.
Think of it this way : we are only now back up to the price it fell to going ex-dividend, so recovered from the unexplained collapse that then hit. We have recovered that ground, but this time other shares have gone up 10% so we have a long way to go yet. £18 is to be expected.
"This can be off set against capital losses, if you have any, and crystallise them in the same tax year."
Ha! Who doesn't have losses?
There are a couple of other factors to consider.
If you sell TGA before a dividend, and buy (maybe a different quantity) back after, the "30 day rule" means that there in effect no CGT this year on the ones you sold (in my reading), but it does get complicated with calculating section 104 holdings that you will need to retain for next year's calculations. See https://www.gov.uk/government/publications/shares-and-capital-gains-tax-hs284-self-assessment-helpsheet/hs284-shares-and-capital-gains-tax-2022.
If you report your losses to IR (and you can do so up to 4 years later) these can be used to offset gains in the following year(s). All tedious record keeping and completing forms, but probably cheaper than a consultant if you can follow the IR CGT notes. Read https://www.gov.uk/capital-gains-tax/losses and all relevant links. They do have clear simple examples that are useful for laymen like me.
PS no offset for inflation :)
This issue impacts how you decide to handle the next dividend. No doubt there will be discussions on whether to hold your shares and take the hit on the SA withholding tax, or sell them the day before buying them back much cheaper ex-dividend. Now for any shares outside SIP or ISA we will have to factor in UK capital gains tax.
If the government hasn't cancelled ISAs and SIPs by then.