Member Info for Onwardsandup

I should clarify, the process is simple. Obtaining all the supporting documentation is not unless the shares are held in your own name

Saga, apologies for the delay in replying, FOS had advised me that they would give me a response to my complaint by COB last Friday so I was hanging back until I received that. I am pleasantly surprised to say that they upheld my complaint and have recommended to HSBC that they provide me with the necessary information (block holding etc).

As we all know there are many hoops to go through trying to reclaim DWT so I am not celebrating just yet. Also, HSBC have until 18th October to accept or decline the recommendation.

I will now forward Form V2A (CNRF) from the Irish Tax Authority website to HMRC which I'm guessing is the form that Greeno sent ?? Even that is not without complication. The declaration must cover all years that the claim relate to. I have been UK resident since birth (62 years) and yet there is nowhere on form V2A to state that. In addition the notes on how to complete the claim form state that all documentation must be forwarded to The Revenue however the instructions for completing form V2A state that the form should not be sent to the Revenue but should be sent to the AWA (HSBC).

I sense yet another email to the Irish Tax Authorities coming up !!!

As has been said on here many times, the process is made as difficult as possible to avoid The Revenue paying out. Having got this far I will persevere rather than going down the Double Taxation Agreement route- for now...

Saga, thanks for your response. As I mentioned earlier this is something that impacts most of us so any advise that may help each other should be shared.

I submit an annual self assessment to HMRC and that was the address that I used. (maybe the wrong one??) "They" is HSBC, not the Irish Tax Authorities. A bit of chicken and egg. If I can't get HSBC to provide the information I don't need the form completed by HMRC so haven't bothered resending to HMRC.

As you will be aware, in addition to the form that Greeno has received, the Nom Co (in my case HSBC) have to provide details of the individual holding. As you say mine will be held as part of a block holding. My point to FOS was, if HSBC don't provide this service why do they have 20 AWA's. The withholding tax is worth 5 figures to me over the past few years so something I don't want to give up lightly.

I spoke to a stockbroker some time ago to do exactly as you say - put the shares in my own name. He suggested using the self assessment route with the Double Taxation Agreement which I'll probably end up doing. I may be wrong but I think you can claim previous years using the Claim for refund form, hence why I am persuing HSBC.

For info - I have had several communications with The Irish Tax Authorities and found them to be very helpful.

Thanks again

A word of caution.

Contango says it's an easy process

Saga lectures me and the other insignificant guy things I'm a clown.

Take your pick.......

Greeno, well done getting the form back from HMRC. I tried and failed. If you don't mind me asking, do you hold your shares directly with the company or via a Nom Co? If direct, I think you're doing well. I hold mine through an HSBC Nom Co. HSBC have got 20 listed AWA's with the Irish Tax Authorities and yet they claim not to offer this service. My complaint against them is currently with The Financial Ombudsman (FOS). HSBC gave FOS a response (I don't know what) but FOS didn't accept it and have challenged them again.

Apologies to all for the long post but this is important to all of us. As someone said some time ago, they make it as difficult as they can to save giving us our money back.

I'm not a tax expert but if anyone does a self assessment (as apposed to PAYE) return you might be able to claim it back via The Double Taxation Agreement.

Saga, thanks for your clarification that your repeated criticism was merely "shaking them up". Not my interpretation of your posts and not convinced I believe your back peddling excuse now. Looks more like a contradiction to me but hey ho. Not sure why you've introduced sacking them. Your words not mine. As you rightly said it's all about opinions. Mine was that I was very disappointed that promoting from within would mean more of the same. But what do I know as Dave says - I'm just a clown.

Saga, you've previously lectured me on how heavy the rain was. KMR play "catch up" with every 6 month reporting.

If you can be bothered, reread your own comments from 27th Feb, 23rd March and 11th April, criticising the management and BOD. And yet your encouraged by the appointment ? - interesting.

Why do I stay invested? I will remain so for as long the dividend remains decent.

As expected, yet another set of underwhelming results. The bigger concern is the announcement that its "promotion from within ". Again, as expected but sadly that means more management rubbish for year's to come

Or also hire more vessels when the sea state is good rather than stock pile and use the weather as an excuse every year. SAGA - Like you I can read a balance sheet. So too can the market. No-one would pay wildy over the current SP regardless of what we may think the true value is based on balance sheet ratios etc. Also I suspect the Directors would be happy to cash in their huge freebie shares for a price lower than what you and I would hope for.

Saga, I don't think my comment about the weather is ill-informed. Yes conditions may have been severe this year but tropical storms are annual occurances in that part of the world. Weather is used as a reason/excuse every year. What lessons have been learnt over all these years to manage shipments etc to mitigate the negative impact?

Contango, be careful what you wish for. As has been said on here before, there is no way that any takeover bid would equate to anywhere near 500p per share.

There would be many unhappy investors casting their minds back to when the SP was circa 530p not that long ago.

Makes you wonder if we'll ever see a quarter/half year/ full year that doesn't blame weather, maintenance, poor ore grades and or operational issues. A world class asset despite shocking management over many many years. Most worrying to me is that they're potentially looking to replace Carvill from within. More of the same mismanagement......

No response from the clown after his stupid post. Presumably he's scurried back up is hole....

Saga, you beat me to it. What a stupid post from that clown the other day. We are all critical of certain aspects of KMR but one thing we can't be critical of is the employment they have brought, the support to the Community and the growth to the local economy. Tragic and sad accidents happen in every walk of life, even higher risk in a heavy industry. Presumably noone forced him in invest here and has now sold his holding

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.....