Do You Pay Uk Tax On Share Dividends

[crix1234]

do you pay UK tax on share dividends

[Captain2]

I think they take Basic Rate Tax off at source automatically (well they do with ours)

[woofgang]

mine is deducted by the people who hold my shares. They also deal with the US tax because my shares are on NYSE not the Uk stock exchange.

[barmy]

UK shares are paid net of standard rate income tax 20%. If you don't pay income tax then you can get dispensation from HMRC, you either claim it back or inform the company but HMRC will help out.

[chrissa1]

I've literally just found out that my late husband owned 500 shares in Lloyds Banking Group.

I'm sure he knew nothing about this and neither did, I.

Are they worth anything and how do I find out? TIA.

[Mick-the-Miller]

You have to declare Share Dividends on your Tax Return - 10 per cent tax is deducted by the Company you have the shares with, this is called a Tax Credit - if you have to pay Higher Rate tax on the Dividends will depend on your circumstances.

[woofgang]

Mick, I don't make a tax return. I spoke to HMRC last year, they know I have got shares and get dividend, but because its less than IIRC 10,000 pa then I don't have to do a return or take any more action.....I was surprised at this too!

[DTCwordfan]

basic rate taken off and then any extra is calculated for payment or credit through the tax declaration....

[woofgang]

chrissa, how did you find out? I am not being nosey but they are held somewhere, and knowing how you found out might help on advice about how to go dfurther. Did someone tell you or did you find paperwork?

[DTCwordfan]

currently 80.9p - so four hundred pounds worth - were they declared in his probate, if not, then your solicitor can go back and include them....worth hanging on as the Government is gradually selling back their stake, 1 percent was transacted today, taking their holding down to 22% and the only way is up.

[chrissa1]

Hi woofgang. I received a letter out of the blue from a company called ProSearch. The letter said I was owed £1040.00. They had an address in Northern Ireland where we lived in the 80's and had tracked me down from there.

I Googled them and found out they were legitimate and would send me a cheque for the money less, 12.5%.

ProSearch are a subsidiary of Equiniti and had been engaged to trace and reunite unclaimed entitlements. I rang Equiniti and gave the the ProSearch Reference Number and they confirmed that what I had been told, was correct.

They told me that if I claimed the money from them, (Equiniti) they would charge me £92.00 per transaction which bearing in mind there are two holdings worked out as a lot more than ProSearch were going to charge me. I therefore went with ProSearch and am awaiting my cheque for £900, odd.

DTC, thanks for that info.

[chrissa1]

There was no probate required as his Estate was less than £5K, DTC.