Damian Wright

Hi, This query relates to the South Africa UK double taxation treaty - According to the treaty (article 10)2(b), dividends taxation by a South African REIT is limited to 15%. According to "DT17353 - Double Taxation Relief Manual: Guidance by country: South Africa: Dividends" published by HMRC - Currently, there are no such investment companies in South Africa. My understanding is thus that the maximum taxable rate for such dividends from South Africa is 10% Guidance by my South African broker and confirmed by SARS (the South African tax authority) is that the rate is indeed 15%, this would contradict HMRC guidance found at https://www.gov.uk/hmrc-internal-manuals/double-taxation-relief/dt17353 The apparent contradiction between the DTA and guidance stems from South Africa having a very active REIT market and DT17353 implying that there are no property investment companies in South Africa, are you able to reference publications that make it explicit that South African REIT's are not, at this time, considered to be property investment companies?. If not, could you provide clarification on the present status as this is critical to the proper completion of my self-assessment. Many Thanks,

Hi, I am UK resident and hold South African shares subject to SA-UK DTA tax treaty. My broker does not reduce dividends withholding tax payable to the South African government from 20% to 10% (inline with the tax treaty). in this this respect, am I able to claim the full 20% deducted from dividends paid as a tax credit? Is there any further detail that needs to be supplied to HMRC for this purpose? Thank-you.

Hi, I am a Remittance Basis tax payer. I've transferred funds from my home country to my UK based stock broker (their German based Euro account) to purchase Euro and USD denominated stocks and need to ascertain what should be reported this as a remittance. Details : - The initial funding was from South Africa (in Rand) to my account held in Belgium (in Euro). - The payment to my broker (Interactive Brokers) was made via SEPA in Euro from my Belgian account. - My brokerage account is held in Euro, dividends and stock purchases are in Euro/USD (Fees are also in Euro/USD). - I do not purchase UK resident stocks with the account. I do not believe a remittance has taken place on the stock purchases as all transactions happen outside the UK and were purchased on foreign exchanges - I would appreciate confirmation of my understanding in order to complete my self-assessment. I am however unsure as to the treatment of service fees that were paid to my broker, specifically, should these be treated as a remittance even though the broker may have executed a transaction on a foreign exchange? Thanks