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USA Dividends


Hammerian

Question

Hi all, Just for clarification, if USA dividend payments are received is the total amount received decreased due to conversion rates If you are UK based? Or are there any charges that would decrease the amount expected? Thanks in anticipation. 

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On 17/05/2021 at 16:37, Hammerian said:

Hi all, Just for clarification, if USA dividend payments are received is the total amount received decreased due to conversion rates If you are UK based? Or are there any charges that would decrease the amount expected? Thanks in anticipation. 

Hi @Hammerian,

In the US the dividend withholding tax rate is normally 30%. However, in terms of the double tax agreement between the US and UK (if you are a UK resident), the amount of withholding tax can be reduced to 15% by completing form W-8BEN, issued by the US Internal Revenue Service (IRS).

If the base currency of your account is GBP we will convert the dividend from $ to £.

Thanks,

Jakub

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