The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Syst, how low do you want it to go? Don't encourage (more) downwards movement.....
Heading back to the bad old days when no-one else on here could have an opinion unless you were either Cont or Greeno's ankles dangling out of BF's backside. For newer posters. 10 plus years ago if you ever dared to (rightly) criticise the BOD, BF would slaughter you. His support seems to have evaporated somewhat....
Greeno. Well done. Back to the brain dead days when guys like you and BUCK (aka) W**nker thought you knew everything and thought the rest of us were idiots. Some of us try and help each other. And you ?????
This form would suggest a full exemption....
https://www.revenue.ie/en/companies-and-charities/documents/dwt/dwt-non-res-v2a.pdf
I think the whole process is designed to be as complicated as possible to encourage holders to give up .
Tep - I've read the same link as you about max 15% which is Saga's point. I've pasted below a para from your previous post:
""Hargreaves Lansdown did make an attempt to obtain reduced rates of tax at source for our Irish stock holders. Our application was rejected by the registrars as we were not considered to be a ‘relevant person’ i.e. a resident in Ireland or a qualifying intermediary (QI) or authorised withholding agent (AWA).""
Question:
Is it your understanding, that had their application not been rejected the rate of tax would have been less than 15%? The reason I ask is that their is a very long list of QI,s & AWA's in the Irish Authorities website. HL also mention the ability to claim back 25% so if they had been a QI/AWA could they have claimed back the full 25% ?
HSBC have confirmed to me this morning that my holding (and anyone else on here who deals through HSBC) is held in the Associated Nom Co - HSBC Client Holdings Nominee (UK) Ltd. HSBC could easily submit a claim being an AWA but they have confirmed that this is not a service they provide which is strange seeing as they are already on the list of AWA's. I am by no means a major shareholder but my holding is large enough for the IWT to be impacting me by several thousand pounds per annum. I have raised a formal complaint with HSBC and will take it to The Ombudsman if necessary but I'm not very hopeful.
OK, thanks. So well nigh impossible for holders in my position or you with your SIPP.....
Contango - thanks for that, very helpful. Apologies if you think I am being pedantic but I want to have as much information as possible before challenging HSBC/Kenmare/Irish Tax Authorities. I'm also sure there will be a number of people on here keen to hear your thoughts/advice.
Like part of your holding, mine is through a Nom Co. If Jeremy Dibb can assist, why don't you go down that route with your SIPP position.
I guess what I'm asking is, is it well nigh impossible to reclaim it if not held in an individual account?
Thanks
My holdings through HSBC. I tried a few years ago and they weren't at all helpful. I think I'll have another go at them. I'd be interested to know if anyone on here has been able to claim it back, especially Cont, seeing he reckons its simple. Maybe I'm going about it the wrong way.
Saga - far from "simple". Good luck !!!!
https://www.revenue.ie/en/companies-and-charities/documents/dwt/dwt-claim-for-refund.pdf
Thanks Facevalue. I have contacted the Department that deals with Corporate Actions within HSBC and asked for an explanation which I'll share with you if I receive one. If they are wrong - very careless of them but the important thing is that the dividend still seems good
I've received a letter via the post from HSBC who I hold my KMR shares with dated 23rd May that states 'we're letting you know that:
Further to our letter dated 24th March 2022, the Company has now cancelled the cash dividend'
I can't find any RNS or reference anywhere online to suggest that being the case.
I am sure if anyone on here had received similar correspondence it would have been posted before my post.
Seems very strange. Hopefully some mistake by HSBC but that would be unlikely. Any ideas ???
I share your pain. We have both been invested here longer than we should have been. Very poor return....As I said before our fault or the BOD's fault?
You and I both know that in the past few years they stated that the Major Projects would be completed without further debt - didn't happen. more Loans.
To then once again sink the Company into further debt recently to ''pay off'' some shareholders is unforgivable. KMR could by now be debt free , instead they are being charged high interest rates to service loans that are not required.
Let's see the Banks interest charges in the annual accounts. That's straight off the bottom line profit which wasn't needed. KMR has the potential to be a top drawer Company, unfortunately ruined over many years by a very incompetent BOD, personally benefiting very well from their incompetence................
Observantken/tiverton
I share your frustration. I have long been a critic of the BOD and they should have been binned as one of the conditions of the rebirth that richtwotwo mentions. They have let long term holders (large and small) like you and I down badly for many many years, looking after their own self interests.
That said, it was us who chose to invest in KMR, not them so not convinced that we can fully blame an incompetent BOD for our investment mistakes. The phrase ''more fool us'' springs to mind. If we all got our investment decisions right we would all be multi millionaires.
At what point does it become a bad investment decision V ''BLAME THE BOARD'' Only you know the answer.
Prior to 2016 my loss was 90% looking like a total loss. I'm now ''only 20%'' down through buying and selling in troughs and peaks. plus the SP creeping back up.
Like it or lump it you're stuck with Carvill and his bunch of (non) merry men.
Invested for 15 years and expecting jam tomorrow. The definition of madness??? doing the same thing over and over again and thinking the result will be something different. Year 16 will be no different.
Sag - apologies for the delay in replying. Only one of us can be correct. According to my ''RNS'' feed here's the recent Director Dealings:
26th March Buy:
Carvill
McCluskey
Somers
Martin
McTtiernan
I won't bother detailing the SP and costs but if you don't believe me I'm happy to do so.
Apologies ??? - over to you.
I'll take no response or silence as your response.
PS Thanks for your apology.............
tep1 - calm down. The FTSE hit 7000, the other day for the first time in a very very long time. Dipping down and taking a breath is a) not surprising, b) not taking a battering and c) more importantly completely irrelevant to the SP of KMR.............
Interesting how everyone sees things differently and how everyone has a difference of opinion. That's what makes the world go round.
For what it's worth, here's mine.
Buffet - Don't be so lazy. DYOR. A simple bit of research will provide the answer to your very basic question.
Del - Not only was your answer blunt and short but also factually incorrect.
Tep - at least you tried to help but sadly you also got it wrong.
Contango - you sussed out that Del was as helpful as usual
If I'm wrong with the reading of the situation I'm sure someone will fire back at me. My understanding is that 5 Directors bought recently hence encouraging another rise in the SP. Hope that helps Buffet et al
PGee - the support for your observations, accusations and assumptions on this board is 100% underwhelming. Perhaps time for you to disappear? Two posts on here, both absolute nonsense - good bye
Not sure if this is of any help to anyone but here goes. I had looked online at the link that Matt had sent and looked into trying become exempt for non residents. If your Dividend is paid via an Agent or a Nom Co then it may be possible for them to pay the dividend gross of tax. There is a list of Authorised Withdrawal Agents. If anyone deals through one of them, you should be onto a winner. I deal via a Halifax share dealing Account. They are not part of the list therefore tax will be deducted. It only starts to become a financial issue as dividends start to ramp up. IWT at 25% is a fair chunk of your hard earned divi to be losing out on.
As an aside, mrmpagi - power supply has always been an issue, it's mentioned in nearly every update so it is very much talked about.
Thanks for the quick responses - my mistake. Looks like several hoops to go through before getting a refund or becoming exempt from IWT. I guess no Government likes handing money back !!!
UPDATE - Before I send everyone away chasing false information, I think I need to look into the tax situation a bit more. Looks like we've always been subject to IWT - even more careless on my part !!!
Any conformation would be greatfully received.......