Standard Life Investment... Share Discussion Threads

[dr biotech] 03/11/2015 16:00

If you search this thread from about 158 there is a discussion relating to this.

[schofip] 03/11/2015 15:06

What is the difference between a PID and a non PID dividend? Anyone.

[dr biotech] 20/10/2015 08:59

Pretty good increase in the NAV in this mornings announcement. Since I have had these they have pretty much outperformed most of my shares just on the increase in the SP, nevermind the decent yield. They have also performed better than UKCM which is my other holding.

[jonwig] 19/10/2015 14:21

Good, thanks. I'm an Edison subscriber but don't visit much, so missed this.

[speedsgh] 19/10/2015 13:50

Edison Investment Research initiates coverage on SLIPIT...

Diversified UK commercial property REIT -

[speedsgh] 22/9/2015 13:22

Significant Asset Management for SLIPIT -

Standard Life Investments Property Income Trust (“SLIPIT”) has completed an asset management program on its largest asset, an office in Farringdon, London, whereby it has let the ground floor following a lease expiry in August, and renewed the leases on the two upper floors. As a result of the transaction the rent has increased by approximately £215,000 pa and the property is fully let. It is anticipated the property’s value will increase by at least £2m at the next valuation as a result of the new leases.

The Company has also secured a short term lease extension on an industrial asset in Oldham for 12 months from end September (with a tenant break after 6 months) that provides a £450,000 increase in rent over the next 12 months. In addition it has completed a new 10 year lease on four units at Ocean Trade Centre Aberdeen, and has the remaining available units under offer.

In addition to the asset management described above the Company has completed the purchase of a small industrial unit on the outskirts of Newcastle that was specifically designed for parcel delivery. The purchase price of £2.9m reflects an initial yield of 7.2% and the property is let for a further 8 years to Geopost.

Jason Baggaley, Fund Manager of SLIPIT, commented “We are continuing to see strong demand from tenants for our accommodation, and I am delighted we have been able to complete a number of transactions that enhance the income to the Company. We are continuing to see strong tenant demand across our portfolio, and with low levels of supply in most markets we are now seeing rental growth again”.

[jonwig] 12/8/2015 14:40

Interesting - are they on a net move south, or just playing voids and rent renewals?

A strong performer recently is London-centric FCPT, whilst a few 'experts' have suggested move out of London/SE.

[speedsgh] 12/8/2015 14:26

SLIPIT rebalances portfolio -

Standard Life Investments Property Income Trust (SLIPIT) rebalances portfolio with quartet of transactions

Standard Life Investments Property Income Trust is pleased to confirm it has completed the sale of two assets, and purchased two more...

[dragonsteeth] 06/8/2015 19:54

Ex divi drop today. NAV increasing nicely , discount not too disproportionate and a nice divi. Still ticking the boxes for me.

[scottishfield] 29/7/2015 08:49

Nice bowl forming on chart now,imo, & edit, lovely end to the day.

[speedsgh] 26/6/2015 12:46

schofip - also from the British Land website...



PID dividend payments will generally be paid out after deduction of withholding tax at the basic rate (at 20% for 2008/09 onwards). However, certain classes of shareholder may be able to claim exemption from deduction of withholding tax. Examples of such classes are:

UK Companies
Charities
Local Authorities
UK Pension Schemes
Managers of PEPs, ISAs and Child Trust Funds

[speedsgh] 26/6/2015 12:45

schofip - Correct. The HMRC declaration form is only relevant if you hold within an ISA as in that case you are eligible to have the PIDs paid out gross.

This is a copy of the form provided for beneficial owner investors (i.e. not the owners intermediaries) by British Land -

[schofip] 26/6/2015 12:35

Sorry to ask you guys what could be a numpty question. With regard to the conversion to a UK REIT do I need to complete an HMRC declaration? I currently hold these share s in a non ISA execution only investment account. If I did hold them in an ISA account would I then need to complete the HMRC declaration in order to receive the gross dividend payment?

Thanks

[dr biotech] 09/6/2015 16:29

Its the same as my holding in UKCM - I think its just a return to be closer to the NAV

[lord gnome] 09/6/2015 15:31

It would appear that the problems over the withholding tax could be affecting the share price. I can't think of any other reason for such a sharp and prolonged decline. This is starting to get serious.

[dragonsteeth] 01/6/2015 14:32

Thanks jonwig, I came across a similar discussion on citywire re Interactive's poor performance and recommending the Telegraph lady as being a good champion. This may take some time but I will pursue this further .

[jonwig] 01/6/2015 10:39

Dragon, after a bit of digging about, I found a discussion in Citywire - it was about bond funds, but the same principles apply:

... the broker should be reclaiming it for you. If he refuses, write a stiff letter of complaint, and point out that his failure to claim the tax back for you is "disadvantaging you", (the word 'disadvantage' if proved, means that he is breach of regulations and must expect the regulator to drop bricks on his head) and that unless this is done within the next 28 days, you will write to the regulator.
If this does not produce results, write to the regulator, write to your MP, write to one of the newspaper 'financial agony aunts' and when the dust has settled, switch your account elsewhere, and tell all your friends.
If the broker then want to charge you for switching, say that you have been forced to switch by their intransigent attitude, and that if they do not rescind their charge, you will complain yet again and if necessary take them to the Fast Track Small Claims Court.
Never give up.



NB - you are disadvantaged because a tax rebate should appear in your ISA, not outside it via a cheque from HMRC.
The Telegraph "agony aunt" is pretty good, I think!

[dragonsteeth] 31/5/2015 13:06

Jonwig, yes I'm not very happy with the tone of the response I received . The amount involved is not considerable, though SLI is in the top tier of my holdings, but I invested in SLI via an ISA obviously for the dividend being tax free. I'm considering my response to Iii , particularly as I note others have revived the full divi from their ISA providers, and may well change providers. I may also contact SLI , as the bottom line is that have agreed a change which effectively has cut the divi for some by 20% , although their capital growth has been greater than I anticipated . I guess it will depend upon the amount of angst and time available which option I take. I'll also post on the iiisli board to get a picture of just which providers are still paying the full divi.

[asmodeus] 31/5/2015 11:59

I suggest iii are assuming the PID is a Div, and so not reclaimable in an ISA? Please note, I am not saying a PID is not reclaimable. Just a Div. And my PIDs are reclaimed automatically by Redmayne Bentley in their ISA.

[jonwig] 31/5/2015 08:22

Dragon - that's an appalling, cheapskate way for them to behave!!

I've used TDD, Alliance Trust Savings and Chas Stanley for ISAs, and they all do the tax reclaim for me.

I suppose the simplest thing to do is use the HMRC helpline or website to get the number for REIT tax reclaims. However, that will result in the money being returned to you outside your ISA, which is not what you want to happen!
It also seems to be contrary to natural justice.

What I would do is check iiiiiii's T&Cs for any mention of this failure to reclaim. If it's not there, send a formal complaint and follow that up with a complaint to the financial ombudsman:



(Incidentally, if a firm has had over 25 complaints against it in a year, it starts to incur fees per single one, starting at £250 each!)

Finally, I'd make no further ISA contributions to iiiiiiiii and suggest to them that you want to move your ISA to another provider free of charge.

[dragonsteeth] 30/5/2015 20:36

Just read the reply I received from iiii which basically said they'd agreed with SLI to take 20% at source and no I wouldn't be getting anything back, I should chase HMRc if I wanted my tax returned.

[dragonsteeth] 28/5/2015 08:30

Thanks guys , a bit of research last night confirmed to me the PID bit , treated the same way as rental income from a property so taxed at 20%. Received an email this morning from my ISA provider saying they'd reinvested the money as per my instructions, so will keep an eye out for " my 20%" coming back in .

[lord gnome] 28/5/2015 07:41

jonwig - now that I have calmed down a little, I remember that this is exactly what happened when I held MCKS shares. The tax element usually came in a month later. It was always paid in full eventually, but it was a bit of a pain.

[jonwig] 28/5/2015 06:58

SLI is now a REIT, and what you've received is not a dividend, it's a Property Income Distribution (PID). This is taxable at 20% and paid net.
Within a tax wrapper (ISA, SIPP), your provider will reclaim the missing 20% which should appear within about three weeks. If it doesn't kick some ass!
(rik, DrB had theirs paid gross - lucky you - but I suspect Selftrade grossed it up for you ahead of time.)
To complicate matters, a REIT can pay an ordinary dividend on top of a PID. (eg. TCSC and SGRO do this.)

What's the point? essentially, a PID is paid out of net rental income, which is taxed at the shareholder end, not the company end.

[dr biotech] 27/5/2015 22:19

I have also received the full amount..