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SAN
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- Lemon Quarter
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SAN
I recall there was a change in dividend tax that affected this preference share, but my search has been unsuccessful in recovering any posts about it. Can anyone remember or have I imagined it?
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- Lemon Quarter
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Re: SAN
Yes, when George Osborne scrapped the old dividend tax credit scheme. The SAN terms are such that the dividend is described as a gross figure and the payout is the net after taking off any tax credit. So when Osborne scrapped the tax credit it obliged Santander to pay the gross dividend amount. A very welcome bonus from Osborne at the time.
These unusual terms also applied to SANB, BBYB and I think possibly a few other obscure prefs as well.
These unusual terms also applied to SANB, BBYB and I think possibly a few other obscure prefs as well.
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- Lemon Quarter
- Posts: 3883
- Joined: November 4th, 2016, 1:04 pm
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Re: SAN
bruncher wrote:Thanks. Perhaps only good until Old Labour takes control?
There is a risk of the tax system being changed and some kind of tax credit or withholding tax is reintroduced, but I think it more likely that future governments, Labour or Conservative, will gradually increase the income tax on dividends.
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