hargreaves update on dividend9 Nov 2021 14:18
Thanks for your response.
I'm afraid, we would need to complete the Tax exemption, as the shares are held by us (HL) in Nominee form.
Furthermore, for us to apply for reduced rates of withholding tax for the dividend, we would need to verify that all holders within our pooled nominee accounts were eligible for the reduced rates. We're unable to do this as we cannot guarantee that all the shareholders with HL are eligible for the exemption (we also have overseas clients). I'm afraid, we’re also unable to send individual tax exemption forms for each individual client holding the stock, as we would need to send a form off for every client that holds the stock with HL.
My apologies if this has caused you any inconvenience.
However, I have contacted the company directly for further guidance on the withholding tax exemption for Nominee holders and they have recently got back to me with the below statement:
"The Company is seeking further clarification from its registrars in Cyprus as you quite rightly point out it is difficult to reconcile individuals with the nominee. I am hoping to get further insight on this and will pass it on as soon as I can."
If you have any other questions, please get back to me. Alternatively, please don't hesitate to contact the helpdesk team on 0117 900 9000. The opening times are 8am - 5pm Monday to Friday, 9:30am - 12:30pm Saturdays.