I’ve just come on to ask about the dividend payment. I’m new to this so I was wondering how long it takes to process it.
Received the BME Dividend payments yesterday evening( Monday 08 Aug)
Is it normal for them to take tax off. I thought in the UK you can have up to £2000 of dividends before you pay tax.
It is Luxembourg based so there is a 15% withholding tax applied (unless it is in a SIPP? although not 100% sure about this)
I’ve just l been looking it up now. I’m new to this so I’m still learning. I’ll have to change my spreadsheet to factor in the tax. I do love messing about with spreadsheet so that’s a plus. I must be really sad lol.
You might be new but you’re definitely in the right place!
It would be good to understand before buying a share if there is any tax to be withheld upon selling as this affect the profit made. This should be made clear in the freetrade app.
Can someone at freetrade confirm why this is the case please?
The only obvious way I can see that there is an overseas ownership (even if the stock is London listed) that might affect dividend on the App is in the stock name - for BME it not ‘Limited’ or ‘PLC’ but ‘B&M European Retail Value SA’
Also the RNS announcing dividend amounts and dates may make reference to withholding tax so worth checking those before investing.
Hi @DarrenJ
Welcome to the community
are ‘An execution-only’ brokers, like most brokers in the UK they do not give investment advice. This extends to people’s personal tax situations, before investing the responsibility is on the individual to satisfy themselves that the investment is right for them.
I hope this doesn’t sound overly harsh but the job of is to be completely neutral. You can see a full list of international withholding taxes here however this is likely to change and some countries have mutual agreements to reduce their taxes (UK & IS for instants)
Has anybody received the dividends yet
No. Not yet.
Nor I. Probably tomorrow?
Got my dividend today less 20% tax
Yh i got mine 2day -15% , i checked i have dunelm lloyds and bnm is the only i payed tax on
B&M is based in Luxembourg. So happy days no stamp duty but unfortunately has a dividend withholding tax
Just joined the B&M stable. Let see what they do.
Discount chain B&M has agreed to buy dozens of shops from the collapsed retailer Wilko, as talks over a bigger rescue deal hang in the balance.
B&M said it will take on up to 51 of Wilko’s 400 stores in a deal worth £13m.
Do we know which 51 stores they plan to take. I suspect the most profitable ones and prehaps where B&M don’t already have a presence.
I don’t think it’s been published yet, might have been promoted to reduce the cost for the other bid from the HMV owners who were struggling with funding apparently.
The market didn’t appear to like the news though.
The market thought they were going to acquire the lot, so didn’t like that it was only 51 stores.