Dividend Allowance – foreign company divis

[Tilly Casson]

Dear Stephen,
I hold South32 and TUI shares outside any tax wrapper for various reasons.
Does the Dividend Allowance only apply to dividends paid by UK registered companies?

Thanks in advance
Tilly C

[Stephen Bland]

Yes. I believe though that the S32 dividend qualifies as a UK payment for this purpose. TUI does not and its dividends suffer German withholding tax in consequence.

[Author]

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