Today I received an email from Freetrade regarding a the payment of a dividend from a UK company (which is normal), British Land to be more precise. However, Freetrade charged me 20% of Withholding tax. Why is that? I don’t even earn £50 a year in dividend and I am a basic tax payer. Why is that? Is there anyone that can explane me or is it a mistake? I am aware it isn’t much but I shouldn’t be paying that.
Hi.
I would suggest reading this article which explains how REITs (real estate investment trust) are taxed. I see that this is in your GIA so not eligible for tax to be reimbursed like in an ISA or SIPP.
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I believe this falls under PID WHT
Seems FT claim this back for ISAs.
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