Jetrider
31 Mar 2016
Re: Tui share drop - Trading Update Bernie do you know why there is a sharp rise on the share today.Went up above £11 at one point.
Boring Bernie
31 Mar 2016
Re: Tui share drop - Trading Update ... and now we have a trading update saying that profit growth at the EBITDA level should be 10%+ for 2015/16 at constant FX.Admittedly, the new dividend regime that's been discussed on here makes us less attractive to UK based income seekers, but the business seems fundamentally sound and is still growing at a reasonable rate.Citigroup are either wrong or looking further forward than we can see at the moment. To be fair to them, they did say that they expect the FX effect to be a drag on profits, which it probably will b
Boring Bernie
18 Mar 2016
Re: Tui share drop today It happens all the time though Jetrider.A broker says Sell, and some people will follow that advice ( or the price is just marked down on the back of it ), so you quite often see a dip If the broker's underlying reasoning is wrong, then the sp recovers.I think Citygroup have called it wrong. If I was underweight in TUI I'd have bought on the back of their note, but I don't really want any more exposure to either TUI or the sector in general so I just had a "meh, whatever" moment when I saw their advice and ignored it..
Jetrider
16 Mar 2016
Re: Tui share drop today I don't know why the share should drop.The statement and downgrade seems to be on speculation.
Boring Bernie
16 Mar 2016
Re: Tui share drop today Citygroup have downgraded both TUI and Thomas cook to a Sell[link]
Jetrider
16 Mar 2016
Tui share drop today Anyone know a reason as to why Tui.l has dropped so sharply today
sportbillygoat
29 Feb 2016
Re: Dividend? Let us know how you get on Philkes;Dividends paid into an ISA, of course, have no tax deducted by hmrc; so I would guess hmrc will ask you which tax you've paid them, you think they owe back to you? You can't claim back tax from hmrc that you've paid to the German tax authorities; you can only be exempt from paying the tax twice. I think you'll have to claim it back from the German equivalent of hmrc; who might want to see that you have paid the tax in the uk - which you haven't if it's in an ISA. Germans aren't signed up to our ISA rules. Still they might want to show how well the EU is working for it's citizens and grant you an exemption.I know from the Shell boards that it's impossible to avoid the Dutch WHT on Shell dividends levied at 15% on the RDSA shares, which is circumvented if one holds the RDSB "UK" share. Shell operate some complicated dividend transfer mechanism. I don't suffer with Unilever shares eitherIn someways the situation is similar to the 10% tax credit that is "lost" on dividends paid into ISAs and SIPPS - though in fact no 10% tax is ever levied - If one received dividends outside of a tax wrapper, the 10% tax credit counts as tax paid by the individual and can be deducted from ones tax bill. If you've got your shares outside a tax wrapper, the tax you have paid the german authorities can be deducted from your UK tax bill, as per double taxation treaties, but you are still liable for UK tax on the dividend which might well be a bit more than than the German WHT if one pays higher rate tax.This is all predicted to change in April when Osbourne removes the 10% tax credit - which was always a bit synthetic - and replaces it with a £5000 personal entitlement to dividends paid (outside of ISAs and SIPPS) before tax is liable. This will benefit (or not) people differently. But some people might choose to hold TUI outside an ISA. Capital gains tax still applies though.Best of luckSBG
PHILKES
29 Feb 2016
Re: Dividend? The shares are held in a share isa. I will await the tax voucher and attempt to reclaim from hmrc.
GoldSifter
29 Feb 2016
Re: Dividend? My understanding was that the beneficial owner can reclaim the tax, you just need to evidence you are the beneficial owner, which is what I would expect the CTC does.
ianood
28 Feb 2016
Re: Dividend? Only if the shares are in your name rather than in that of a nominee such is the case with a SIPP or ISA
PHILKES
28 Feb 2016
Re: Dividend? So TD have sent a further response:The tax voucher (Consolidated Tax Certificate, or CTC) that Jonathan was referring to, is a document which is produced after tax year end for all customers who have had dividends paid and subsequent tax deductions. The CTC for the current year is not available, as the tax year has not yet ended.It will be available to view, download and print in all customers accounts after the end of the tax year, which ends on 5th April. It usually available by approx. end of April/beginning of May. When it is, you will receive a notification to let you know that you can go to your Documents section online and find it there.Does this mean I maybe able to reclaim the tax?
ianood
28 Feb 2016
Re: Dividend? Sportbillygoat, Thank you for the background, most of which I have now already discovered. I already hold US and Canadian entities and have in force the required docs to mitigate WHT where appropriate. However, I am still somewhat astonished that the German Government permit this levy at the State level.I agree the gross yield of circa 4%, falling to 3% net, is under whelming in a SIPP and thus they will shortly be exited.I actually purchased my TUI holding pre the merger and have been fortunate enough to successfully trade in and out a couple of times, saving the stamp duty on the way back in on each occasion which I suppose is some small compensation. One lesson that I have learned from this, in the future I will always check all non UK domiciled businesses for potential WHT and CGT issues.Again, thanks for the comments and guidance.
sportbillygoat
27 Feb 2016
Re: Dividend? IanIt is mindnumbingly frustrating, but not attrbutable to the EU. We are simply being charged taxed at source by an independent state on income derived within their jurisdiction - and at the same rate as their home punters. The deal with US shares is slightly more pernicious as they have a 30% withholding taxing dividends and capital gains for foreign holders. I don't know what US residents are obliged to pay - less, I would imagine.We (the UK) have bilateral tax treaties with many countries, and tax can be reduced, returned of offset from ones tax bill to prevent double taxation. As the US is far and away the biggest foreign market virtually all brokers will provide customers with a W8-BEN form to reduce one's tax liability to 15% (or 0% if it is held in "retirement holdings" like a SIPP). I believe one may now be obliged to hold a valid W8-BEN form before purchasing US stocks, for US money laundering/ tuhrism prevention purposes. I get a repeat warning my W8-BEN form is about to expire a full year before it does on my TD account screen (they only last 3 years), so it's obviously something brokers are concerned aboutAlas Getmany is much smaller beer as far as financial markets go, and UK brokers choose not to go to the same trouble of offering the equivalent facility for German withholding tax (or any other nation's withholding tax, so far as I know).I think this might be relatively simple to do individually if one holds ones shares in an old fashioned trading account, and one is the registered holder, as there are appropriate forms for this purpose - the German tax people even have a English language parallel website, God bless 'em; but holdings inside of tax wrappers like ISAs and SIPPs are nearly always nominee account held, and the broker is the registered holder.I would imagine brokers might be motivated to fill in the necessary paperwork if they got a cut of the reclaimed tax, but even then numbers are probably pretty small amongst independent investors. We're only here because a UK company got bought out by a German one.Sadly it may no longer be efficient for me to continue holding TUI I've enjoyed a good ride up with them, but the yield is pretty miserable even before that solidarity charge is deducted...
ianood
26 Feb 2016
Re: Dividend? Just had this from my SIPP provider :-As TUI AG are a German stock their dividend are subject to German withholding tax of 25%. On top of this there is a solidarity charge which is 5% of the withholding tax which equates to a total charge of 26.37%. I am afraid it is not possible to claim withholding tax back through the SIPP. Looks like another good case of equality within the EU!
GoldSifter
25 Feb 2016
Re: More helpful than the response I got from TD Direct..... Not sure how an IFA would help, other than to say "stick with proper UK listings?" 
I'm going to ask for a tax certificate from TD, and have a go at the German form. Will let you know how I get on.Thank you for your recent email regarding your TUI dividends.Your dividend reinvestment will not trigger automatically for these shares. We can only reinvest sterling dividends paid on FTSE 350 so the funds received from Tui would have to be reinvested manually if that is what you'd like to have happen.If you wish to reclaim some of the tax already paid, I believe this is possible but am not able to provide any specific advice. I recommend contacting an independent financial advisor who should be able to provide some advice and let you know what can be done.If there's anything else I can do for you just let me know.Thanks,
