Are Santander Dividends UK or Foreign?

oceanescence

Because Santander UK is owned by the Spanish Santander Group, I am unsure where to list money from Santander dividends on the tax return - under "Dividends from UK companies" or "Foreign dividends".

Would be below the threshold in either section regardless so it is not a major issue.

wmb194

What’s the actual name/code of the security? Santander UK’s ordinary shares* aren’t listed so you presumably own shares in Banco Santander SA, which is Spanish. Therefore the dividend is foreign.

Does Spain have a dividend withholding tax? This is another clue you can use to judge and you can claim some relief on it if relevant to your tax situation (sounds like it isn’t).

*It does have two issues of preference shares listed in London which are classed as UK dividends.

oceanescence

Thanks, I didn't know about the security code's relevance. The security code starts with ES (so Spain's code).

I can see that one dividend had Spanish witholding tax deducted and the other is apparently not subject to the deduction.

wmb194

oceanescence said:

Thanks, I didn't know about the security code's relevance. The security code starts with ES (so Spain's code).

I can see that one dividend had Spanish witholding tax deducted and the other is apparently not subject to the deduction.

Yup, definitely foreign. Not all distributions are classified as dividends so it could be that the one that hasn't attracted Spanish withholding tax is e.g., a capital return or an interest payment and so wasn't taxed. Or it is a dividend but a special type... You'd need to look into it.