UK dividends and form 11?

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cash_cow

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Hi,

I have a Share account and I have received received dividends from UK companies In the statement from Goodbody I can see there is an Dividend Withholding Tax & Encashment Tax.
If I understand correctly the Encashment tax applies to UK companies, but not sure where this should be added on the form 11.

301. Great Britain and Northern Ireland Dividends
(Net amount received)

=> Is this the amount that I received from Goodbody for UK dividend?


320. Irish tax deducted on encashment

=> is this the Encashment tax for UK dividend?

Thanks.
 
cash_cow said:
Hi,

I have a Share account and I have received received dividends from UK companies In the statement from Goodbody I can see there is an Dividend Withholding Tax & Encashment Tax.
If I understand correctly the Encashment tax applies to UK companies, but not sure where this should be added on the form 11.

301. Great Britain and Northern Ireland Dividends
(Net amount received)

=> Is this the amount that I received from Goodbody for UK dividend?


320. Irish tax deducted on encashment

=> is this the Encashment tax for UK dividend?

Thanks.
Click to expand...
Dividends paid by UK companies

You pay Irish tax on the net dividend received by you. No credit is allowed for any UK tax already deducted from the dividend payment.

You must convert the net payment received to Euro and declare it on your Irish Income Tax return

So in your case as there is Irish encashment tax, you declare the net UK dividend before the encashment tax was deducted at 301. You then input the Irish encashment tax at 320.
 
You can get the average exchange rate between Sterling and the Euro for each year on the Central Bank website.The Revenue will accept any rate you use.But I use the the CB rate
 
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