Diversified Energy Share Discussion Threads

[3800] 01/7/2022 15:07

2.98528p per share in the isa with ii 3.6125c in dealing account and you have to convert it yourself but not today as it's not showing as cleared funds until Monday.
3800

[time 2 retire] 01/7/2022 14:46

I'm with II and filled out the W8BEN form but still paid 30% tax so have messaged them.

[themadstork] 01/7/2022 14:40

HL are excellent in this regard. The first time you go to deal a US-domiciled stock, you will automatically be prompted to fill out the W8-BEN. Takes 5 min and means you only pay 15% instead of 30 (in an ISA), which makes DEC's yield much more attractive.

[1knocker] 01/7/2022 14:36

t2t, US stocks are OK, The W8-BEN does work, and in a SIPP there is no withholding tax at all (15% in an ISA). It is Swiss stocks you need to steer clear of - 35% withholding tax and a reclaiming system so Byzantine that no platform will even try to recover any of it. When I had a big holding of FXPO in those pre-war days of distant memory I think I virtually bought Switzerland with the amount of tax they rooked from me.

[cassini] 01/7/2022 14:35

time 2 retire,

Just to keep up to date on what brokers won't refund withholding tax, can you tell us who you're with? I'm betting it's not HL or II.

[time 2 retire] 01/7/2022 14:07

Thanks guys, I've recalculated and it was indeed circa 30% tax I paid. It is in an ISA and have filled out the W8BEN form so no idea why I paid so much. Never mind, I'm out ASAP when I get my losses back.

[cassini] 01/7/2022 13:35

time 2 retire,

You've paid the full withholding tax (although, that should only be 30% off!).

If you hold these in an ordinary trading account you will pay the full withholding tax.

In an ISA it should be only 15% tax, in a SIPP, 0% tax, although only if you've filled in a W8-BEN form.

However, for some reason, some brokers charge this tax no matter what. These tend to be broking arms of banks, rather than independent brokers.

Have a look in the header for more info on this.

[holts] 01/7/2022 13:35

You need to complete a w8 form then you only pay 15 per cent tax , yours will be 30 per cent without .
For info with ii I got .0298526 pence per share .

[time 2 retire] 01/7/2022 13:19

Thanks HOLTS, mine in too but a lot less than I expected, I've worked out payment is 39% less! I've no idea how the US to UK tax system works but this is my first and last dabble in Yankee shares!

[holts] 01/7/2022 12:57

II have credited now.

[westi1] 01/7/2022 12:54

True. Fineco is a complex broker/site but they always respond. As others, have also yet to receive divis or even a response l will wait patiently.

[time 2 retire] 01/7/2022 12:45

Westi1, II replied to my message saying because it's paid in US dollars it takes 2/3 days longer than if it was a UK placing so I'm guessing Tuesday or Monday if we're lucky.

[scrwal] 01/7/2022 12:36

Westi1

At least you have a definitive response which ii have never done with me whenever I have complained.

[tag57] 01/7/2022 10:27

Arrived yesterday from HL

[westi1] 01/7/2022 08:42

Finally got a response from Fineco.


DEC. Divi payment will go in Monday (4.7.2022)


We will see.

[holts] 01/7/2022 07:54

Nor this morning

[time 2 retire] 30/6/2022 22:25

Still no sign of the divi from II, bloody crooks.

[asp5] 30/6/2022 21:03

signiciant drops in NGF prices - Aug 22 down 14% to 5,56. So glad DECs hedge strategy removes price risk.

Also another high volume day (2,3M shares traded)- with a UT trade for 1,1M shares late in the day followed by another trade for 350K shares.

Still believe negative share price being driven primarily by this activity as investors dealing in this volume will know DEC is hedged. This activity started around early/mid June with the share price being impacted from around this date.

[1knocker] 30/6/2022 18:11

mrn, I bought another ton of smokeless today, at last year's winter price, which is shocking enough -£579 inc delivery - but I was told that there were no summer discounts this year, that it would go up another £60 a ton in July, and probably a further £120 a ton on top of that when they get the bulk of their winter stock in during September/October. Apparently the suppliers are jacking up their prices to the merchants and offering them no discounts this year. Today's purchase will probably turn out be my best investment of the year! Extra sweaters when that is all used up!!

The really infuriating thing is that in my last house I had two cast iron pure coal burning glass fronted stoves made by Esse which ran continuously throughout the winter - full fill at 7.30 am, ash out at 11,30pm and a half fill for the night. Together they burned about 3 tons each winter, always at minimum setting, and kept the whole fabric of the house warm. They are not made any longer! I think the govt changed the rules to outlaw pure coal burners when they decided we ought all to be burning renewable fuels (only to decide a couple of year's later that the particles wood smoke are carcinogenic). The multifuel job which is all that I could get now is far less efficient and needs to be relit each morning to be reasonably economical, and won't last more than about 8 hours max between fills. Burning wood you barely get time to sit down before its time the chuck in a couple more logs! I should have brought one of the old stoves with me when we moved. After 30 year's use it was good as ever.

As you say, so much for an energy policy. Anyhow, I have coal and a hurricane lamp, so I shall survive even if the lights do go out over Britain.

[holts] 30/6/2022 16:30

How can it be multiple choice as to whether stamp duty is paid of not ? The div should have been in today , is this all just a benefit of being flogged on from owner to owner ?

[mrnumpty] 30/6/2022 14:47

1knocker . With regard to stocking up on coal , I would do so now . I bought some 20kg sacks of smaller house coal a couple of days ago at £ 8.50 , which is the same price as last March , but the merchants told me that they will only hold this price until the end if July ( and as long as they have stocks ) . After that , they anticipate £ 11 to £ 12 . Furthermore , I think that it will be illegal to sell coal for domestic use in about year’s time . Britain has scarcely had an energy policy for many years - as Sir Edward Grey , British Foreign Minister , said just before the First World War broke out “ the lights are going out all over Europe . I fear we shan’t see them lit again for a long time “ . Buy coal - Westminster has recently “ wargamed “ a scenario in which SIX MILLION households suffer power cuts .

[time 2 retire] 30/6/2022 14:34

HOLTS, I just checked and I bought mine on May 19th, apparently II started charging at end of that month so I got lucky I guess.
Yepp, its all in an isa.

[westi1] 30/6/2022 14:10

Thanks scrwal.

[scrwal] 30/6/2022 14:08

Westi1

Don't know about Fineco but brokers can be hit or miss on paying divs with some being very slow and others spot on. It tends to be a lottery at times.