I keep getting stung for withholding tax on foreign shares I own, mostly US shares, even though I've filled in a W-8BEN form.
Reason?
For cost reasons shares are purchased in a pooled nominee account and so the IRS can't see that I'm the beneficial owner.
Anyway, for those in a similar situation, this article was useful to me:
Watch out for withholding tax
PS. Holding the shares in an ISA or SIPP makes sod all difference, the septics couldn't care less and take the tax at source.
Reason?
For cost reasons shares are purchased in a pooled nominee account and so the IRS can't see that I'm the beneficial owner.
Anyway, for those in a similar situation, this article was useful to me:
Watch out for withholding tax
PS. Holding the shares in an ISA or SIPP makes sod all difference, the septics couldn't care less and take the tax at source.