UK shares

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Shaz

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I own a few shares in a UK plc. Got dividends from them and I can see from the document sent that there is an amount for tax credit. I had to declare to the revenue this dividend as net dividend but in my P21 it showed that 41% has been deducted. The tax credit deducted on the document received is approx 11%. Why do I have to pay 41% and not just the balance to the Irish revenue collectors? What can I do in this situation.
 
As far as I know you should be able to claim a tax credit against your Irish income tax liability on the dividend income in respect of the dividend witholding tax paid to the UK authorities. Get onto Revenue and query it.
 
In view of this, is it better to purchase a FTSE 100 index tracker as all dividends will be reinvested and I will not have to pay extra tax on it?

What about an ETF?

Thanks.
 
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http://www.amazon.com/gp/product/B001DMJAMI?ie=UTF8&tag=rhinocom-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=B001DMJAMI
 
Shaz said:
In view of this, is it better to purchase a FTSE 100 index tracker as all dividends will be reinvested and I will not have to pay extra tax on it?

What about an ETF?

Thanks.
Click to expand...

Shaz...you will receive dividends quarterly on an index tracker..i hold a ftse100 etf and get dividends each quarter.
 
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