I am a relatively new investor. I received a dividend today for a UK stock investment (Grafton) in my GIA account, but it had 25% Tax withheld, why? This is the first dividend I have received for this new tax year, dividends I received earlier this year (in the prior tax year) had no Tax withheld.
Has something changed in this tax year whereby Tax is now being withheld at source?
Swiss resident private investors don’t have that 35% tax and there is no CGT there either at any level for them.
Well that is not 100% correct, more accurate:
The federal government levies withholding tax as a measure to prevent tax evasion. Taxpayers have an incentive to declare their income from bank accounts and securities in full in order to obtain a refund of the withholding tax.