foreign scrip dividends within ISA

bruncher
Posts: 15
Joined: November 4th, 2016, 12:20 pm

foreign scrip dividends within ISA

Postby bruncher » December 31st, 2016, 2:03 pm

I have an ISA with Selftrade. I hold Total and Iberdrola, both of which offer shares as an alternative to dividends, but Selftrade won't do the admin to allow me to take that option. I have to take the cash dividend - which is subject to witholding tax.

Is anyone aware of a discount broker that does offer holders the option to take shares instead of cash?

PeterGray
Posts: 25
Joined: November 4th, 2016, 11:18 am

Re: foreign scrip dividends within ISA

Postby PeterGray » December 31st, 2016, 3:34 pm

I have to take the cash dividend - which is subject to witholding tax.

Scrips are also taxable, which is probably why Selftrade don't want to handle them - the tax treatment gets complex on foreign scrips.

TwmSionCati
Posts: 8
Joined: November 9th, 2016, 12:11 pm

Re: foreign scrip dividends within ISA

Postby TwmSionCati » January 1st, 2017, 7:10 pm

bruncher: "Is anyone aware of a discount broker that does offer holders the option to take shares instead of cash?"

Hargreaves Lansdown does it for Telefonicà, which is also Spanish.

TSC

TwmSionCati
Posts: 8
Joined: November 9th, 2016, 12:11 pm

Re: foreign scrip dividends within ISA

Postby TwmSionCati » January 1st, 2017, 7:13 pm

Damn! Sorry, too hasty. HL allows that option on rights issues, which I remember Selftrade doesn't. So maybe - worth checking anyway.

TSC

bruncher
Posts: 15
Joined: November 4th, 2016, 12:20 pm

Re: foreign scrip dividends within ISA

Postby bruncher » January 1st, 2017, 7:58 pm

I think I'd probably regard HL as a mid-price rather than discount broker, but will have another look at their charges. Thanks.


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