A Investment forum. InvestmentBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » InvestmentBanter forum » Regional » UK
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

IAG Shares (ex-BA)



 
 
Thread Tools Display Modes
  #1  
Old July 31st 17, 09:52 AM posted to uk.finance
CJB
external usenet poster
 
Posts: 38
Default IAG Shares (ex-BA)

As a UK born and resident national and ex-employee of the now Spanish-owned so-called British Airways I have some shares given to me many years ago. It would be wdely known that IAG / BA refused to pay dividends on such for many years. But now they are paying a paltry return - redued by exorbitant Spanish tax together with a poor Euro to GBP exchange rate. My question now is do I have to declare these dividends for UK tax purposes. Secondly how do I sell the damned shares - which are just about worthless anyway? Thanks - Chris B.
  #2  
Old August 1st 17, 12:40 PM posted to uk.finance
David Woolley[_2_]
external usenet poster
 
Posts: 301
Default IAG Shares (ex-BA)

On 31/07/17 09:52, CJB wrote:
As a UK born and resident national and ex-employee of the now Spanish-owned so-called British Airways I have some shares given to me many years ago. It would be wdely known that IAG / BA refused to pay dividends on such for many years. But now they are paying a paltry return - redued by exorbitant Spanish tax together with a poor Euro to GBP exchange rate. My question now is do I have to declare these dividends for UK tax purposes. Secondly how do I sell the damned shares - which are just about worthless anyway? Thanks - Chris B.



IAG appear to be quoted on the London Stock Exchange, so you sell them
through any broker in the normal way. Your bank probably has a service,
although it might not be the cheapest. As windfall shares, the whole
value, less your selling costs will be capital gains, so you should
check if they take you over the CGT threshold.

Declaring them for tax would be important if you have other dividend
income that takes you above the dividend allowance, or if you have CGT
to pay, and the income would push you into a higher tax rate band.
Otherwise, it might really just be to try and get the benefit of any
Spanish tax paid. Unfortunately, I'm not sure how the new rules work on
this, as I basically let HMRC do the work for me, and the only foreign
income I have is from collective investments.

If you do need to fill in a tax return, there is a special section of
the main tax form for taxed foreign dividends totalling no more than
£300, which was, almost certainly introduced precisely because of IAG
and Santander shares.

If in doubt, write to HMRC (or use the additional information box, in
plenty of time).

 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Cadbury Shares now Kraft shares Query bm[_2_] Financial planning 4 July 10th 10 07:12 PM
Share / Shares Tips / Investment Recommendations on Indian Shares & Stocks shareinfoline[_2_] UK 0 June 23rd 08 01:03 PM
Can Court turn fake shares to valid shares? farseer Stocks & shares 1 June 23rd 06 06:21 AM
Newbie simple question - difference between Issued shares & Outstanding shares TS Stocks & shares 4 July 16th 03 11:54 AM
Newbie simple question - difference between Issued shares & Outstanding shares TS Stocks & shares 0 July 15th 03 06:54 PM


All times are GMT +1. The time now is 02:20 AM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Copyright 2004-2018 InvestmentBanter.
The comments are property of their posters.