Spanish Tax

Blue76

I currently hold shares in Iberdrola who took over my employer (ScottishPower). These shares are locked in via a share save scheme and are subject to minimum holding terms.

However even when they do become "available" I am told that I will have to file a Tax form 210 with Spanish Tax authorities. Has anyone any experience of doing this? I know that some Abbey shareholders may be in the same position having being taken over by Santander.

Thanks

missile

So you think, if one owns shares in any foreign company then you are liable to pay tax in that country on any sale?

Sounds like someone is winding you up.

Blue76

missile wrote: »

So you think, if one owns shares in any foreign company then you are liable to pay tax in that country on any sale?

Sounds like someone is winding you up.

If some one is winding me up can you explain the attached?

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=418331&in_page_id=23

http://www.scottishpower.com/uploads/070226GuidanceSpanishTax.pdf

jem16

That 2nd link should be;
http://www.scottishpower.com/uploads/070226GuidanceSpanishTax.pdf

I can't help you with what to do but I do remember reading all the bumph that came through at the time of the takeover. It was one of the things that put me off taking the Iberdrola shares and in the end I decided to sell.

I have enough to worry about with UK tax never mind Spanish tax.

missile

Blue76 wrote: »

If some one is winding me up can you explain the attached?

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=418331&in_page_id=23

http://www.scottishpower.com/uploads/070226GuidanceSpanishTax.pdf

The first link states your dividend will be paid after spanish tax is deducted and thus you will only need to pay UK tax if you are a higher rate tax payer.

You may have to fill in a Spanish tax return.......

and you believe everything you read in the newspaper? I can't open your second link.

If it concerns you, sell the shares as recomended in the article.

jem16

missile wrote: »

I can't open your second link.

So try opening the link I provided which will open.

http://www.scottishpower.com/uploads/070226GuidanceSpanishTax.pdf

If it concerns you, sell the shares as recomended in the article.

That was only available at the time of the merger. Unfortunately it won't help the OP.

OP - try asking in the investment board. You might get someone there who has the shares too.

Blue76

jem16 wrote: »

So try opening the link I provided which will open.

http://www.scottishpower.com/uploads/070226GuidanceSpanishTax.pdf



That was only available at the time of the merger. Unfortunately it won't help the OP.

OP - try asking in the investment board. You might get someone there who has the shares too.

Thanks jem16. It is certainly a bit of a minefield and certainly not as simple as above poster indicates for reasons of free, matching, locked in, conditional shares ....