marktime1231
05 Jul 2017
Re: Tax reclaim and ESOP Despite best efforts today this seems to be a waste of time, ESOP say I need to return UK tax office stamped forms no later than 8 July. Well that is impossible, we no longer have drop-in tax offices, actually I no longer know where my nearest one is. As some of you have already said, too much bother, and probably so by design.So, in future. remove 25% of the headline dividend before deciding whether to hold.Actually even with the cream sliced off the dividend prospects are really exciting. Plus500 say they will distribute 60% of net profit to shareholders - those profts are booming, and the share buy-back in progress will further enhance the yield. To maybe 60p or more (NET) per share next year. Or, take the gain when the price is right. £10 anyone?
dave297
05 Jul 2017
Re: Free shares Are the holy grail & of mine are currently 'free' , as is the dividend & long may it continue !Good luck to all of us ( apart from any shorters)
shugg1e
05 Jul 2017
Re: Free shares For the sake of a few hundred quid i have to agree you can make that back buy just trading the stock
veksi
05 Jul 2017
Free shares I was up 33% plus divi 10%.So I've sold 60% of my holding at 581.5p, leaving me risk free with free shares to hold.Still got 2000 shares worth over two accounts, happy to hold for a free ride.I can't be bothered with these forms. I know I'm lazy but I haven't got time for form filling.
marktime1231
05 Jul 2017
Tax reclaim and ESOP Further enquiries today reveal that there is a procedure to apply for the witholding tax to be reduced from 25% to 15%, which may be applied to the current dividend if application is made before 7 July.Unfortunately the procedure is form based, complicated and info may not be readily to hand. If you want to try, the people to contact are ESOP ... here are some links to helpPlus500 Ltd announcement - [link] A/114 - [link] Management & Trust Services Ltd - Tel: 00972 3753 6823, Email: [email protected] suggest you start with ESOP and see if and how they can help, since I think they are engaged by Plus500 / Israel tax authorities to expedite.And before you beat me up too:1) this was a surprise because I was not expecting it2) I have not invested in an Israeli company before so why should I have known3) the dividend announced in February before the ex-div date did not mention it, on which basis I bought in4) I did not see the post ex-div RNS explaining matters in detail until yesterday, why would you go looking for something you don't know to look for5) none of you clever clogs thoughs to mention it, nor as far as I am aware was it mentioned in financial press, trading platform announcements or blogs ...Happy to chalk this as another learning experience and happy to forgive the unhelpful remarks being exchanged on here
shugg1e
05 Jul 2017
Re: 25% tax Great thanks your standing me correct Dave that is reassuring to know.
shugg1e
05 Jul 2017
Re: 25% tax What have you found out about how to do thisFrom what i found the form looks very complicated and i have no idea where to sent it to apart from the ITA in JerusalemI was hoping i could do it through my brokerAnyone done it?
freedom-thirty5
04 Jul 2017
Re: 25% tax This is something the israeli gov does for companies incorporated there. I read it in multiple RNSs before investing. It didn't come as a surprise really, when you think about it.Personally, although the high divi was a factor in my investment, it was a secondary one. I am here for the capital gain. The share is great value regardless of the tax, and the divi contributes to how undervalued the share currently is.It's not as if the Israelites are taking 25% of the capital gain as well!
marktime1231
04 Jul 2017
Re: 25% tax I have made enquiries of hl and Plus500 how to register to get future dividends paid at the correct UK-Israeli witholding tax rate of 15%, too late for the recent dividend where relief will need to be sought via the HMRC tax return process.Still feeling daft that I did not know about this until now, since this is a UK listed share it is a pity it wasn't mentioned in the dividend declaration, and a shame not to have been alerted by hl or any discussion of the issue here.The learning curve of a small private investor can be jolly steep sometimes, and more uphill struggles than freewheels
dave297
04 Jul 2017
Re: 25% tax Veksi- you have generated a fantastic capital gain over a very short period of time & the yield ,even net of 25% (or 15% ) is still extremely high.All my Plus shares are held in my ISA & SIPP & I have no,complaints,buying my first holding shortly after flotation at about 115p-which has been substantially more than covered by dividends received since then.
veksi
04 Jul 2017
Re: 25% tax I have to say just seen the fat divi of 10% even after tax withheld makes me tempted to hold on.I'm just slightly uncomfortable with the tax but it could be worse.Think of investing in Tanzanian gold stock...far worse situation, although this is uncomfortable it's still cheap and I would much rather invest in a share with Israeli interference than African crooked loonies. It was my mistake not to have read the rns I must admit.I might trim but I am hoping to stick around though,
veksi
04 Jul 2017
Re: 25% tax "I don't get this?"What is odd about it Dave?I'm new to plus500 only bought first time when it fell to high 300s and bought a load at 430p.So being new here I was not aware Israel takes a chunk.Never been in a share where this happens it is extremely unusual.So there is nothing odd for some punters not to have known.That said I am reaping a good profit so no complaints.Live and learn this was too good to be true.
daverob82
04 Jul 2017
Re: 25% tax Shuggle - have a read of this as I don't think you've got your divi tax straight - [link] 5k personal allowance then 32.5% on anything above that if you're a higher rate taxpayer (which you infer). Assuming you've done your certificate for 15% Israeli WHT then you only pay 32.5% on your actual divi received (post-WHT) which means the total tax you pay is 42.625%.Of course, if it's in your personal allowance or an ISA then you pay nothing above the 15% WHT.
shugg1e
04 Jul 2017
Re: 25% tax unfortunately notWhich is another blow as the post 25% taxed dividend you do receive will also be subject to UK tax if you go over your £3 grand allowance as the taxman will just see it as income on your share account regardless of whether you have already paid a quarter of it to support the Israeli economy and further tax you accordingly.If your a 40% tax payer you could potentially lose 65% of your divi ffs!!!!!!
shugg1e
04 Jul 2017
Re: 25% tax yes i saw that RNS and i suspect like many did not read it correctly assuming it was for more larger share holdings only.I must admit my mistake for not reading it properly but to be honest i have never know money deducted from a companies dividends paid to the home country.Well not with any overseas shares i have held anyway
