Matra Petroleum Share Discussion Threads

[nedhammers1] 18/4/2017 23:15

Welcome back SuperT ;-)

[rodneyfoster] 18/4/2017 22:36

The isolator I am sure I read someone here mentioning previously that TD wouldn't be trading them .Can anyone with TD confirm this ?

[rodneyfoster] 18/4/2017 21:07

Libra How do they know that it is non crest eligible.My understanding is that it will not be clarified till relist ,Do you have confirmation otherwise .If it is non crest eligible then sharecentre for one cannot deal in them

[librag] 18/4/2017 17:43

calmtrader; I used private messaging on my a/c page.

I hope they don't mind me copying their reply to me here ...
"
You will be able to trade the stock but as they are non CREST eligible you will need to pay an additional £50 dealing charge on top of the standard £8 per trade. Additionally you will need to fill out a W8-BEN form and send this to us in the post to avoid US Tax. Our asset servicing team will be issuing a corporate action notification once everything is announced officially.

Kind regards,
The Online Team"

[nedhammers1] 18/4/2017 14:41

Rodney, yes I think that's exactly what they actually said, they won't know until they start trading but are accepting my transfer from Halifax to share centre

[rodneyfoster] 18/4/2017 14:29

NedThey have jumped the gun.They cannot 100% confirm they can trade shares till Thursday at 8 on relist If they can be dealt through CREST then sharecentre will trade them .If not they will contact you to give you other options.I would be very careful reading some of comments and claims made here.

[nedhammers1] 18/4/2017 12:47

I've just Spoken to share centre and they say they should be able to trade but will not confirm until Matra list, they are in the process of accepting my shares into them from Halifax

[calmtrader] 18/4/2017 12:05

Libra who at beaufort do you speak to as I'm getting a different message from them thxs

[librag] 18/4/2017 10:50

I'm using Beaufort Securities and they will deal for me. I'm not sure about US tax though, so I'm checking that with them.

edit. once they're relisted.

[the_isolator] 18/4/2017 10:49

Td deal them but not until they list, I have an account with TD and Barclays and tried to transfer them across to TD but they wouldn't except them until they are listed

[mrdon1] 18/4/2017 10:24

Hi can anyone recommend a company that deals in there shares 100% share centre is no saying they do not know if they can deal in them and the bank of scotland will not deal with them

[librag] 15/4/2017 12:53

I agree beggarman.
Have a good Easter weekend.

[beggarman] 15/4/2017 12:41

All I can say is that I had some US shares and my broker (Bank of New York Mellon) used to send me W8-BEN forms every two years to complete, as they are only valid for two years.

I find it hard to believe that every shareholder on the Nasdaq First North has to complete a W8-BEN if they are non US citizens. It would make the exchange unworkable.

[librag] 15/4/2017 12:18

Hiya,
I'm no expert but it looks to me that the US tax authorities simply want to know where a holder of US equity holds their tax details. All well and good, it's HMRC and that should be that.
The IRS is looking for US citizens with holdings abroad. So not really aimed at UK citizens at all.
No doubt they'll want me to jump through a few hoops ... colour of underwear, size of wotsits etc.

edit.
Aaaaaargh. I've just looked at the W-8BEN form. US citizens fill in another form, as W-8BEN is for non-US citizens. So, a foreign tax service wants my National Insurance number, address and date of birth.
Not sure how I feel about this ...

I'll ask Beaufort if the form relates only to dividends and interest income. If so, there won't be any for the foreseeable and I'll have probably sold up by then anyway.

So, I'll let you know how I get on.

[beggarman] 14/4/2017 18:53

The following article is from 2014 but it may explain the need for a W8-BEN.

[beggarman] 14/4/2017 18:45

I have just downloaded the following from the Computershare website:


"Why do I have to complete this form?
If you wish to invest in US (United States) stocks and shares, you will need to complete a Form W-8BEN; this is appropriate for
single / joint Trading Accounts and ISAs.
As part of our obligations to the US Tax Authorities – Internal Revenue Service (IRS) we are required to document all holders
of US securities. Additionally, should you reside in a country that has a treaty with the US you may benefit from treaty relief in
respect of dividend and interest payments.
Below is an example of a typical UK Tax resident claiming treaty benefits, but how you complete the form will depend on your
individual circumstances."


If it is true that we have to fill in a W8-BEN, it would appear that although the shares are sold in Sweden we are subject to US withholding tax.


I'll call my broker on Tuesday, gives me something to do!

[librag] 14/4/2017 18:29

Thanks beggarman, Beauforts call First North a lateral trading facility of the Nasdaq. So i guess it's form filling time.
Apparently there are various W8-BEN forms so I've asked Beaufort to provide the correct one for me.

I'll let you know I get on.

[beggarman] 14/4/2017 17:43

Its possible that somebody at Beauforts believes that because the exchange in Sweden is part of NASDAQ that they think the shares are trading in the US. You would definitely have to lodge a W8-BEN if the shares were listed in the US.

[beggarman] 14/4/2017 17:18

tackems - The ISA is tax free for UK tax, if there is a Swedish withholding tax it would be deducted prior to settlement.

[tackems] 14/4/2017 17:15

Does this still apply if they are in an ISA anyone?

[doxford] 14/4/2017 16:26

When I get my dividend I will willingly give some tax back to the Sweedes.

[beggarman] 14/4/2017 16:01

I've just checked the internet and there is a Swedish withholding tax but it is restricted to dividend payments made from Swedish companies paid to non-residents.

I guess we will have to confirm with our brokers on Tuesday.

[beggarman] 14/4/2017 15:53

LibraG - I've had to fill them out in the past but that was to negate US withholding tax.

[librag] 14/4/2017 15:08

Beaufort are saying they think I'll need to fill out W8-BEN forms re. tax status for trading the new shares.
Anyone else had similar advice?

Happy Easter!