Witholding Tax by Country for a UK investor
Posted: April 25th, 2022, 1:16 pm
Are there any links to Witholding Taxes by country for UK investors, particularly in SIPPs? I can't seem to find anything on Google.
Shares, Investment and Personal Finance Discussion Forums
https://www.lemonfool.co.uk/
XFool wrote:My understanding is SIPPS ought to be free of these taxes - as they are recognised pension vehicles (unlike ISAs). But, it doesn't necessarily mean a particular broker has the wherewithal to comply with this. Or possibly that all countries apply the rules, though you should be OK with US shares.
The broker's detailed report on dividend payments should show any applied taxation.
Here is some information, I don't know if it helps:
https://www.simplysafedividends.com/intelligent-income/posts/31-foreign-dividend-withholding-tax-guide
https://www.spglobal.com/spdji/en/documents/additional-material/withholding-tax-index-values.pdf
I expect it may come down to the particular share involved and also the broker you use. Have you tried asking them?
UncleEbenezer wrote:No information on European countries? And whether brexit nonsense might hurt investors there?
StayinAlive wrote:There seems to be plenty of links suggesting that dividends of US share destined for a UK SIPP should be paid without any deduction of withholding tax.
Indeed, one link claims AJ Bell can do this.
However, when I asked them recently, they claimed that US companies "must withhold the tax at the time they pay the income to a foreign shareholder".
This all seems to be a bit of a grey area,
So my question is - has anyone out there received any US dividend without deduction of any withholding tax within a SIPP and, if so, through which broker?
StayinAlive wrote:There seems to be plenty of links suggesting that dividends of US share destined for a UK SIPP should be paid without any deduction of withholding tax.
Indeed, one link claims AJ Bell can do this.
However, when I asked them recently, they claimed that US companies "must withhold the tax at the time they pay the income to a foreign shareholder".
This all seems to be a bit of a grey area,
So my question is - has anyone out there received any US dividend without deduction of any withholding tax within a SIPP and, if so, through which broker?
Tax GBP 0
StayinAlive wrote:There seems to be plenty of links suggesting that dividends of US share destined for a UK SIPP should be paid without any deduction of withholding tax.
Indeed, one link claims AJ Bell can do this.
However, when I asked them recently, they claimed that US companies "must withhold the tax at the time they pay the income to a foreign shareholder".
This all seems to be a bit of a grey area,
So my question is - has anyone out there received any US dividend without deduction of any withholding tax within a SIPP and, if so, through which broker?