Gengulphus wrote:On a somewhat pedantic point of detail, that's a bit too all-encompassing: the UK does not operate a withholding tax system on dividends, but it does operate a withholding tax system. It's on the PIDs paid by REITs, which are similar to dividends in most ways and often referred to as dividends, but are not actually dividends. So I'm making this point not because of any relevance to Unilever, but just as a warning against applying the "there's no UK withholding tax system" idea too broadly to other shares.
Equally pedantically, I've seen those such as British Land describe the tax deduction as a withholding tax but have yet to find such a description in the legislation.
Now that you've brought that point to my attention, does the legislation even define the term "withholding tax"? If not, its normal definition applies - see e.g. https://www.investopedia.com/terms/w/withholdingtax.asp
or https://www.merriam-webster.com/diction ... ding%20tax
- and the UK operates a number of other withholding tax systems, most notably including PAYE... In the context of investing in shares, though, the term is generally restricted to withholding tax on distributions from shares.
This is definitely a "matter arising" from discussing Unilever, rather than actually discussing Unilever, so I'll stop at this point.