Banco Santander Share Discussion Threads

[solomon] 30/10/2019 10:50

Banks can't seem to catch a break. The ex-dividend of BNC today only accounts for 2.5% drop

[wad collector] 30/10/2019 10:22

Q3 results not well received ; down 5% so far.

Not sure why ; they look pretty positive , guess it is about endless impairment charges...

[pvb] 01/10/2019 17:16

@Plootocrat
I have looked at the attachment in Post 356 above, as well as the witholding tax on dividends which I would expect it also says non-Spanish residents need to complete a Spanish Tax Form 210 on sale of the shares - is that right? CGT paid to the Spanish authorities on shares bought and sold on the LSE? Is it different if shares are held in an ISA?

Yes. But only on a gain. ;-)

I assume an ISA makes no difference to the Spanish tax authorities.

Then again, reading document Form 210 Guidance, para 2.3:

2.3 This guidance is addressed only to shareholders who hold their shares through the
Santander Nominee service, including former A&L and Abbey shareholders (the
“Shareholders”) who became Banco Santander shareholders and (i) are not tax
resident in Spain and are tax resident in a Member State of the European Union
(including the UK), other than a tax haven country or jurisdiction for Spanish tax
purposes (such as Gibraltar), or in a country with which Spain has signed a double
tax treaty containing provisions which exempt from Spanish tax any capital gains
derived by such a person from the sale of shares in a Spanish company (Appendix
1 sets out a non-exhaustive list of countries which have entered into such a double
tax treaty with Spain); (ii) are the beneficial owners of their Banco Santander
shares; (iii) do not carry on business through a permanent establishment in Spain
or outside the European Union with which their holdings of Banco Santander
shares are effectively connected; and (iv) do not own, directly or indirectly, 3% or
more of the share capital or shares carrying 3% or more of the voting rights in
Banco Santander.

Appendix 1 shows the UK listed as a country with which Spain has entered into such a double tax treaty.

[pander45] 23/7/2019 13:33

Good update today and market approves.

[my retirement fund] 04/7/2019 09:24

Agree with that anylsis Mr Bowler. Also another one of similar unloved ilk on the up with great dividend policy. Bank Ireland!

[plootocrat] 04/7/2019 08:55

I have looked at the attachment in Post 356 above, as well as the witholding tax on dividends which I would expect it also says non-Spanish residents need to complete a Spanish Tax Form 210 on sale of the shares - is that right? CGT paid to the Spanish authorities on shares bought and sold on the LSE? Is it different if shares are held in an ISA?

[davebowler] 04/7/2019 07:47

hTTps://www.ii.co.uk/analysis-commentary/cheap-bank-share-knockout-dividend-yield-ii508586?utm_source=IBMW&utm_medium=email&utm_campaign=ii_Afternoon_round_up_newsletter_030719%20(1)&utm_content=&spMailingID=6501811&spUserID=MTIxNjc2Mzk1NDM1S0&spJobID=1310279562&spReportId=MTMxMDI3OTU2MgS2

[pvb] 01/7/2019 14:11

...Free Trade Zone or not, there's still tax. There is no unified EU income tax regime.

Spain charges 19%(?) witholding tax on BNC dividends paid to non resident shareholders.
In principle this can be mitigated, in practice it turns out to be too much trouble for most people
to bother with.

It used to be the case that if your shares were held in the Banco Santander share scheme
they would sort this out for you and the tax was not deducted. I don't know what the present
situation is on this.

More information is available via this page:




"Reclaiming Spanish Withholding Tax
....

Please note that the costs of the above service may outweigh the benefits."

[stpalm] 01/7/2019 12:44

Glavey, i thought the point of e u was that it is a free trade zone. now in my tiny brain that should mean no witholding tax. are you talking post brexit or is the tax much the same as uk meaning you are paying it to spanish gov instead of our shower?

[pvb] 28/5/2019 13:29

I have tried to simplify the Santander links at the header of this thread (as a standard HTML "< a >" Tag) but, for whatever unfathomable reason, the ADVFN editor just will NOT permit it in this case.

[wad collector] 01/5/2019 20:43

Thanks for the link. Always hard to judge results that say underlying profits up but the offsets take them down....
Market seems pretty neutral about them.

[pvb] 30/4/2019 20:36

First Quarter results:

[dendria] 29/4/2019 15:24

Spanish election result looks to be strengthening BNC. Governing Socialists won but need support from some minor party for majority. Conservative Popular Party support collapsed. Doesn't look a great result for the market but I suppose any outcome will be welcomed to provide stability.

[solomon] 29/4/2019 13:39

Ex-div today. Around 5.5p to be paid (minus withholding tax) on 2nd May. Gross yield over 5%. Will the divi drop be covered today, I wonder.

[solomon] 17/4/2019 13:08

I think the capital appreciation will outrank the divi in the next year, so I'm not so much bothered about the withholding tax.

[glavey] 16/4/2019 20:13

... and Spanish witholding tax to be deducted.

[solomon] 16/4/2019 14:00

... and no stamp duty to be paid on purchases.

[wad collector] 16/4/2019 13:14

Sp sneaked to a 6 month high today. The dividends don't appear in the ADVFN financial summaries for some reason ( not just that Euros) but was 23 Cents last year inc the scrip dividend. This gives a solid 5% yield .
Newest div is 6.5 cents xd 29th april.

[jon123] 05/2/2019 08:35

not sure what that means to be honest or what effect it'll have

[pvb] 04/2/2019 20:12

"Banco Santander, S.A. (the "Issuer" or "Banco Santander") announces its decision to carry out the optional early redemption of all outstanding issuances of preferred securities listed in the annex to this Material Fact (the "Preferred Securities" and the "Issuances", respectively), all of which are traded on the Regulated Market of the London Stock Exchange."

Shades of things to come, or BNC specific?

[tygarreg] 30/1/2019 18:08

And I thought they were good results and in line with expectations!

[pvb] 07/11/2018 09:16

Information on dividend election: