Delays in having company dividends lodged to my stockbroking account.

jpd said:
No, you cannot choose to have the gross dividend paid as long as you dealing through an intermediary who is holding the shares
Click to expand...
I just read through the Terms and Conditions booklet given to me by Davy when I opened my account.

On page 30 of that booklet under the heading Dividends and Other Income, it says the following.

"If you use our nominee service to hold your investments and have sent us a valid completed Dividend Withholding Tax exemption form, we will make your DWT status known to those Irish companies in which you hold shares. When we do this you will receive your dividends before deductions of income tax at standard rates".

Exemptions for residents

Which residents can avail of an exemption and how to claim an exemption.
www.revenue.ie

and

Who should withhold DWT?

This page outlines when Dividend Withholding Tax is withheld from a distribution
www.revenue.ie

Reading from the Davy booklet they refer to "your DWT status known to those Irish companies"

The fact that I am receiving a dividend from a non EU country (The U.K.) am I not entitles to receive the gross dividend?

Why if I elect to receive a dividend paid to me direct from a UK company can I get it sent without deduction of tax?
 
If you can get the UK company to have you on their list of shareholders, then yes I imagine the dividend would be paid directly to you without any deductions.

Not sure how you would go about this - contacting the company would be a good starting point
 
Dividend Withholding Tax and Encashment Tax are two different things.

DWT is a withholding tax on Irish dividends.

Encashment Tax is a withholding tax on foreign dividends. More people are noticing it now because prior to 31 December 2020 (i.e. Brexit), it didn’t apply to UK dividends.
 
Thanks Gordon.

Encashment Tax

This page has information on Encashment Tax
www.revenue.ie

I believe that the DWT was taxed at 20%. This FET is taxed at 25%?

Can this tax be claimed back?
 
Gordon Gekko said:
Encashment Tax is a withholding tax on foreign dividends. More people are noticing it now because prior to 31 December 2020 (i.e. Brexit), it didn’t apply to UK dividends
Click to expand...
I agree and all the more reason why Davy Stockbrokers might have given a breakdown of the amount that they are withholding from overseas dividends in FET rather than just credit your account with a sum of money. It would be helpful.
 
DazedInPontoon said:
I have over 100k worth of shares in degiro. I built it up gradually over multiple years.
Click to expand...
Do you know if a person can purchase €100k worth of shares in a company in one transaction with Degiro? (assuming the market maker has them available)

I have an execution only trading account with Davy. I was tracking a particular share and tried to purchase it using their online trading platform. The amount of the purchase was circa €100k. Their system wouldn't let me do it. I had to phone them......then waiting and waiting to be put through to their dealing room and while waiting the share price moved by 4p. Really frustrating.

I am looking around for an alternative stockbroker to move by business to, where I can have a quicker service with less charges but importantly where my money is safe.
 
Grizzly said:
Do you know if a person can purchase €100k worth of shares in a company in one transaction with Degiro? (assuming the market maker has them available)
Click to expand...
Sorry I don't know, I guess the largest single transaction I've done on degiro was about 10k worth. I also don't think I've ever transferred more than that amount from my bank to degiro at a time .
 
I understand that when buying shares through Davy and other stockbrokers, you can opt to have these in Certificate form rather than held electronically.

Has anyone done this? How much is charged for this service?

I assume that the share certificate is sent to the account holder rather than held by the stockbroker?
 
Laramie said:
I understand that when buying shares through Davy and other stockbrokers, you can opt to have these in Certificate form rather than held electronically.

Has anyone done this? How much is charged for this service?
Click to expand...
I just checked the above. To take it out of electric format there is a charge of €36.90. To re-lodge the certificate there is a charge of €80.

Anyone done this?
 
Anyone know why Davy Stockbrokers take so long to update contract notes online?

It would be nice to see a breakdown of my share purchases and sells, to see the exact price I received, rather than a rounded price. Also, the time my purchase was contracted and the costs involved.
 
Last edited:
I usually track my Ftse Buys and Sells online. You can often see your exact trade online on one of the U.K. sites or The London Stock Exchange site.

However, I notice that when I sometimes do a trade through Davy Stockbrokers, my trade does not appear anywhere. How is this possible? Are they doing some sort of off-book trade that does not appear on the official LSE site or what?
 
I've run into this with Goodbody, in times past - but only with very well known, large, LSE Co's.

I was told that Davy, Goodbody and others, sometimes sell shares that they already hold, when you put in a bit instruction - however, I don't know in what capacity they might have been holding them (ie as part of a larger position in one of their funds, or on their own account etc.)
 
You must log in or register to reply here.
Menu
Log in
Register