Somero Enterprise Share Discussion Threads

[ragehammer] 27/4/2017 21:35

I asked AJ Bell about completing a W8-BEN form for my SIPP and they said it was unnecessary. I received the 6.67p stated above.

[3800] 27/4/2017 19:21

Thanks for the replies TravellingTrader and Flagon, Looks like my initial concern over getting 5.696p dividend rather than a larger amount was entirely due to no tax being deducted when held in SIPP accounts the very small differences can be put down to different FX rates being used.
3800

[flagon] 27/4/2017 18:11

I hold SOM within a TDWaterhouse ISA ... received dividend at the rate of 5.696p per share.

[travellingtrader] 27/4/2017 17:04

I have accounts with AJ Bell and received the dividends at roughly the following rates.
Sipp 6.67p
ISA & Dealing: 5.57p (15% tax)

[3800] 27/4/2017 16:40

Still getting to the bottom of the withholding tax question. did the individuals who recieved 6.58p in dividends hold the shares within a Sipp as apposed to an ISA. If so that would explain alot about the amounts recieved. If anyone who recived 6.58p could fill me in on the type of account they have it would sort the issue out for me.
This an extract from HLs website

"A W-8BEN form allows Hargreaves Lansdown to claim a reduction in the US tax on your dividends and interest from US shares. Withholding tax rates can be reduced from 30% to 15%, or to 0% if the holding is held in a SIPP. The form is mandatory before trading US shares. A W-8BEN is valid for three calendar years after the year in which it was signed. A new form must be submitted when the existing one expires, and Hargreaves Lansdown will inform all clients in advance of expiry."

[panic investor] 27/4/2017 13:18

I hold no hopes for that in the USA, just carry on as normal, it's Asia that is important.

[carcosa] 27/4/2017 12:47

There was no infrastructure spending in Trumps announcement which, only a few days ago, was expected.

[carcosa] 27/4/2017 12:47

There was no infrastructure spending in Trumps announcement which, only a few days ago, was expected.

[3800] 27/4/2017 12:37

Ragehammer, I think you have misunderstood the issue over the "different amount dividends" it appears to be more of a 15% tax issue rather than a currency movement issue.
3800

[gorilla36] 27/4/2017 12:10

rivaldo - Excellent point re US tax rate, but I think it will be a hell of a job to get that through congress!

[rivaldo] 27/4/2017 11:45

I've just posted this on the CAR thread, and the same applies to SOM.

Trump's overnight announcement that US corporate tax should be cut from 35% to 15% would be a big boost to SOM. He faces opposition in getting it through, but it would certainly represent a material windfall to SOM as their current tax rate is 33%.

[mrx001] 27/4/2017 10:31

Still waiting on my dividend from idealing, normally have been very good but lately they seem to be losing the plot.????

[ragehammer] 27/4/2017 10:15

Usually a delay of a week or so won't make much difference. Sometimes it will be of benefit. The problem this time has been that the GBP has increased quite a bit since the General Election was called. So the difference between 17th April (approx 1.253) to yesterday (approx 1.283) is a couple of percentage points. If GBP had weakened by the same amount over that period then the delay would have caused a commensurate benefit.

I use AJ Bell. I can complain to them, but I would rather fix this at source. What on earth are Somero doing sending physical cheques out for dividends in this day and age?

[3800] 27/4/2017 10:00

I hold stock in Somero within ISA accounts with both TD Direct and Selftrade. I got my dividend from TD direct on the 18th April at the rate of 5.696p per share, I am still waiting from Selftrade. Like others here I am wondering if it’s worth using a different broker for this stock as the .88p difference between TD and HL cost me £223 this time and with a special dividend coming up next time it will likely be even more. I am still waiting for the dividend from Selftrade but will post that when it finally arrives.
3800

[blueeyes13] 27/4/2017 03:40

Yep mine paid in yesterday by AJ Bell. I had sent a written email complaint yesterday based on fact that lots of other brokers having paid their clients including HL according to ADVFN SOM board! Said it wasn't good enough and someone somewhere was making money off interest and unreasonable. Maybe just coincidence that we all got paid on same day but always good to keep them on their toes! I like their platform but they need to improve in some areas. I can't set up trailing stop losses on the platform which is my main gripe.Anyway, SOM divi money all paid. I look forward to news on special divi later in year and to some level of corporate tax cuts in US in next 12 months plus hitting the 5 year plan on sales one year early. I'm keeping hold to see what occurs next 12 months as US economy doesn't look like it will soften but need to keep an eye on that over time. Regards

[villarich] 26/4/2017 22:49

Blueeyes...AJ Bell paid mine today.

[nurdin] 26/4/2017 12:17

Glad I took advantage of the recent dip..:o)

[panic investor] 26/4/2017 11:13

not the best of posts but we seem to have movement !

[gorilla36] 26/4/2017 11:05

Got mine from HL 6.58p.

[stepone68] 26/4/2017 10:19

They are also saying that it is broker dependent, so you might be able to get the tax reduced with different brokers. Did anyone use iDealing as I have an account with them and it may be worth switching my Somero holding over.

[stepone68] 26/4/2017 10:17

i-Web Sharedealing (part of Halifax) are telling me the same thing - Somero settle through CREST and so filling out a W8-BEN would make no difference. If they paid through Tasser (never heard of it!) then the tax would be able to be reduced.

StepOne

[rivaldo] 26/4/2017 09:49

Barclays have deducted tax at 30% from the dividend. As always with Barclays, I'll have to get in touch with them to remind them they already have a W8-BEN form for me and they should reclaim 15% tax for me. This has worked in the past, but it's a pain, and occasionally I'll forget to do it. It's really not good enough in this day and age.

[greenhorn54] 25/4/2017 16:07

Very strange re divi timing. Mine was reinvested (on Motley Fool) last Wed..

[martinthebrave] 25/4/2017 14:53

Thanks Terry236 et al. I will also email Halifax but I don't hold out much hope.

[panic investor] 25/4/2017 14:42

and i thought Barca;ays were slow.

All very pathetic in this day and age. You can bet somebody is making money from it somewhere