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Posted Mon, 02 Oct 2023 12:54:08 GMT by John Barber
My SIPP is in drawdown and includes shares in companies listed on the Hong Kong Stock Exchange. Withholding tax is deducted on dividend payments from these companies because the shares are held in the broker's/"street" name. I understand the UK/HK tax treaty allows dividends to be paid to UK residents free of withholding tax, but the broker has told me it's my problem to sort out. If possible, how do I reclaim the withholding tax. Thanks.
Posted Fri, 06 Oct 2023 10:37:48 GMT by HMRC Admin 20 Response
Hi John Barber,

You will need to approach your broker – or possibly their custodian or the original dividend paying agent – for some paperwork to confirm what rate of tax was withheld.
You will then declare the income and the tax deducted on the foreign page of the tax return and claim the witholding tax as foreign tax credit relief.
All payments must be converted to sterling.
Tax on foreign income

Thank you.

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