Diversified Energy Share Discussion Threads

[t 34] 19/7/2023 18:02

Can you do it after every dividend payment or when you do self-assessment after full tax year ??

[marksp2011] 19/7/2023 17:45

I think you can use Form R189 as support for a tax refund




If you do a self assessment it can be put in under foreign income as you will declare excess tax

[marksp2011] 19/7/2023 17:27

For those peed off by the DEC buyback try this one for size :)

Dunedin Income and Growth

PURCHASE OF OWN ORDINARY SHARES

On 19 July 2023, the Company purchased in the market 1,000 ordinary shares at a price of 282.0 pence per share. These shares will be held in treasury.

At this rate it will take them over a month to buy back my shares

[loafingchard] 18/7/2023 13:55

Matches my experience with XO, 15% in ISA.

[lab305] 18/7/2023 07:08

1knocker you are so right. Every dividend we have endless discussions on withholding tax and the answer is always the same . CHANGE BROKER. With XO you pay 15% outside a sipp and 0% in sipp.Trades are £5.95 . Stamp duty paid at 0.5%. Dividend is paid on the due date.

[1knocker] 18/7/2023 01:39

Why waste your life in correspondence with Halifax and the ombudsman? Vote with your feet. That's what feet are for!

Moreover, surely there must be a likelihood that the ombudsman will say that Halifax are entitled to set their own terms of business, so don't let another dividend get scalped while you argue the toss.

[spawny100] 17/7/2023 16:37

But did you ask the financial ombudsman to look into it?

[fred177] 17/7/2023 16:33

Spawny no chance of getting Halifax won’t apply it I’ve asked previously

[spawny100] 17/7/2023 14:11

Re wht of 30% in iweb ISA - I contacted fos about this and they have actually forwarded my complaint to Halifax "so they have a chance to put things right for you first". They say I should receive a final response from Halifax after 8 weeks after which I can take it up with fos again if I'm not satisfied. Will keep you posted

[laurence llewelyn binliner] 17/7/2023 13:00

#Howard Moreton, you may be correct, but now I have a UK bank document detailing their tax deducted in the UK, then my logic suggests I should be able to offset/reclaim that on my self assessment..

Interesting debate, I will progress this before I let it go and see how I get along, the fallback position is to move to II or at least the DEC equity, but it is worth testing the water on a reclaim before having to do so..

[scrwal] 17/7/2023 12:44

howardmorton
" US withholding tax which is deducted by the US dividend paying entity"

That is the problem which is the iweb stance as DEC is UK registered but is taxed using US rules but the div is paid by a UK entity. The default assumption is everything should be covered by the W-8BEN as per DECs website but is that the case? Who really knows and what is the correct legal state of play?

[howardmorton] 17/7/2023 11:46

LLB, I believe you may be mistaken. The withholding tax is US withholding tax which is deducted by the US dividend paying entity at the US rate of 30%, if there is no tax treaty in place. There is a tax treaty with the UK which permits payments to UK residents at the lower rate of 15% (if a W-8BEN is in place).

[laurence llewelyn binliner] 17/7/2023 11:18

#Howard Moreton, because the WHT is stopped by Barclays in the UK and that is what is shown on the R189 tax summary I am exploring if there any provisions to recover the extra 15% withheld once a year, I might be barking up the wrong tree but worth a go before I give up and move on from SI for my DEC shares and move to II..

[howardmorton] 17/7/2023 11:03

LLB, I will interested to hear if you make any progress with the R189 form. Any overpaid tax (the additional 15%) must be held by the US IRS and it must be from them that the overpaid amount must be claimed; unless Barclays submitted their own W-8BEN and received the dividends net of 15%? I am sure they would not do that.

By the way, I have initiated the transfer of all holdings in the SI account to a new account with II. The II account was opened very quickly on Friday evening and I am waiting for the holdings to appear in the new account.

[t 34] 17/7/2023 10:38

Does someone has an experience with Note R189 .What to do with it???

[laurence llewelyn binliner] 17/7/2023 08:46

28.06.2023 - LSE:DEC) is pleased to announce the sale of certain non-core, non-operated assets within Diversified's Central Region for gross consideration of USD40M..

17.07.2023 - sale of certain assets for USD16M

Are they gearing up for the next purchase..?
Positioning to get ahead of any over leveraged players becoming forced sellers of better assets..?
Or covering the potential BB costs..?

#Howard Moreton, I too have an R189 from SI now, basically a tax paid summary with no guidance at all on what to do with it, before I give up trying to recover the 15% WHT and move on I have enquired if there are any provisions on a self assessment for recovery of overpaid taxes, and will feed back if I get anywhere, unless we have any accountants here that know the answer..?

[this_is_me] 17/7/2023 08:13

Yes, it is hardly a huge amount of money, but every little bit helps. There may well be more similar deals.

[lab305] 17/7/2023 07:46

Well they are building up a war chest for something as they have only used approx 0.175% of their buyback money in three weeks .

[gary1966] 17/7/2023 07:18

Another $16m in the bank, every little bit helps.

[1hercule] 14/7/2023 18:09

Ignore that. Its somehow replied while in my pocket

[1hercule] 14/7/2023 18:08

90 minute winnerwinner's

[laurence llewelyn binliner] 14/7/2023 15:29

#Fordtin, +1, just leave the BB there as a back stop IRO 85 pence should the share price drift and any sellers want to get out that badly, no need at all to chase the price up, just keep smashing the debt, pumping out dividends and looking at more accretive deals when opportunities present themselves..

[fordtin] 14/7/2023 15:20

I’m quite happy to see they’re being sensibly cautious with the buybacks. Trying to chase the share price up too fast would probably result in a fall back as soon as they stop buying.
It might be frustrating for short-term traders, but a disciplined buyback program should prove better for long-term investors imo.

As they seem to have drawn a line in the sand iro 85p, hopefully they’ll buy exponentially if the share price falls lower.
If the market decides to take the price back up with minimal, or no further buybacks, the cash set aside for buybacks can be redeployed to pay down debt, add accretive assets, or drill some infill wells.

[gary1966] 14/7/2023 15:16

Then why announce a buyback?