NB Global Monthly Income Fund Ltd NBMI

This trust invests in secured corporate loans issued in USD, GBP and EUR, diversified by sector. NB aims to provide investors a regular, sustainable dividend whilst growing capital in the fund.

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Does FT directly tax the dividends of NBMI.L and by how much?

By way of an example BCPT.L is taxed 20% directly by FreeTrade at time of distribution.


Freetrade does not directly tax any dividend. As a UK taxpayer, the responsibility for ensuring the correct level of tax is paid lies with yourself.

The tax of 20% you are referring to for BCPT.L is for PID dividends which are deducted and paid to HMRC by a REIT before they are paid. It is incorrect information to say that Freetrade are taxing you. The tax has nothing to do with Freetrade.

I find this explanation here one of the most straightforward ones for PID dividends.

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Hi Jimmy,

I thought we all knew what I meant. When I wrote that FT taxes directly on behalf of HMRC, I thought thiswas a given, but perhaps this was not articulated well enough for everyone.

The link you referred me to did not answer my question.

Have you got an answer to my re-phrased question:
Does FT withhold tax on the dividends of NBMI.L on behalf of HMRC, and by how much?