Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Tax on Dividends - It is taken at source?

  • 05-12-2012 4:00pm
    #1
    ionapaul
    Registered Users, Registered Users 2 Posts: 5,307 ✭✭✭


    I own a number of UK and Europe-based companies and ETFs that pay dividends, and hold these via a Davy Stockbroker account - is the Irish tax I owe taken at source when I receive the dividends into my Davy account? (i.e. do Davy withhold them?)

    I always inform the Revenue of the amount I receive to my Davy cash balance via the ROS.ie PAYE Anytime web portal, I just want to be sure I'm not being double-taxed somehow!


Comments

  • #2
    Min
    Closed Accounts Posts: 5,550 ✭✭✭Min


    The best thing to do would be to contact Davy and find out what the position is.
    You can let us know here what if they remove the tax or leave it to you to pay.


  • #3
    Procyon
    Registered Users, Registered Users 2 Posts: 40 ✭Procyon


    For the Irish dividends you won't be double taxed, there is the dividend withholding tax which (afaik) is withheld by the company not by Davy.

    When you fill the value into the Irish shares section of the ROS website, it will account for the dividend withholding tax before calculating what you owe.

    I think at least some ETFs are treated differently to shares from a tax point of view. I looked into this a few years ago and ETFs had a lower tax rate for the dividends (if you pay tax at the higher rate) and a different way for calculating capital gains.

    I also remember that from a CGT point of view you couldn't use losses from ETFs against gains from normal shares. However I don't own any ETFs at the moment and am not an expert so you will have to investigate this.


Advertisement