Iweb

wmb194

masonic said:

Matt_22 said:

Thanks do LBG offer a shares platform under there own name then. With higher charges?

They also offer Halifax Share Dealing and Lloyds Bank Direct Investments.

The other day in another thread someone mentioned yet another brand I hadn't been aware of: Bank of Scotland Share Dealing. Essentially £9.50 per trade and a fee of £3 pm/£36pa that covers both a GIA and an ISA.

"Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited."

https://www.bankofscotland.co.uk/investing/ways-to-invest/share-dealing-services/share-dealing-account.html

barbuda

Hi, Iweb is ok regarding charges, the only problem I have had is that I get some dividends in my isa from a uk listed share that is based in usa and pays the divi in $$
Iweb have decided to deduct 30% withholding tax (I have signed the wBen form, but it made no difference).
Other brokers, aj bell, hl etc only deduct 15%, and 0% if in a sipp.

If the divi payment is small then perhaps not much of a problem, but to me I was losing £500 pa with Iweb, so I had to switch to a sipp with aj bell.

Matt_22

The only share I have is Nvidia I guess that would be the same as is a USA company.

Matt_22

But there dividence is really small 

masonic

Matt_22 said:

The only share I have is Nvidia I guess that would be the same as is a USA company.

It wouldn't be the same,  because Nvidia is not UK-listed, so you'd still get the reduced 15% rate. iWeb uses the W8-BEN to apply for the reduced rate of withholding tax on US-listed shares only. In fairness, they do state this on their website, and also that they don't reclaim the remaining 15% withholding tax on SIPPs:

This is one of things you'd need to go to a full-service provider in order to benefit from. iWeb is less competitive on its SIPP offering anyway, so it's not something that comes up often.

wmb194

masonic said:

Matt_22 said:

The only share I have is Nvidia I guess that would be the same as is a USA company.

It wouldn't be the same,  because Nvidia is not UK-listed, so you'd still get the reduced 15% rate. iWeb uses the W8-BEN to apply for the reduced rate of withholding tax on US-listed shares only. In fairness, they do state this on their website, and also that they don't reclaim the remaining 15% withholding tax on SIPPs:

This is one of things you'd need to go to a full-service provider in order to benefit from. iWeb is less competitive on its SIPP offering anyway, so it's not something that comes up often.

That's really strange. I own a few shares in Diversified Energy Company (LSE:DEC) which is a US company listed in London and Freetrade manages to only deduct the usual 15% in my GIA.

masonic

wmb194 said:

masonic said:

Matt_22 said:

The only share I have is Nvidia I guess that would be the same as is a USA company.

It wouldn't be the same,  because Nvidia is not UK-listed, so you'd still get the reduced 15% rate. iWeb uses the W8-BEN to apply for the reduced rate of withholding tax on US-listed shares only. In fairness, they do state this on their website, and also that they don't reclaim the remaining 15% withholding tax on SIPPs:

This is one of things you'd need to go to a full-service provider in order to benefit from. iWeb is less competitive on its SIPP offering anyway, so it's not something that comes up often.

That's really strange. I own a few shares in Diversified Energy Company (LSE:DEC) which is a US company listed in London and Freetrade manages to only deduct the usual 15% in my GIA.

Suspect this involves some extra legwork by the platform, which goes beyond iWeb's no-frills service. Personally I've only ever used them for Irish domiciled ETFs with US holdings, which are already reduced to 15% through the US-Ireland DTT.

Matt_22

masonic said:

Matt_22 said:

The only share I have is Nvidia I guess that would be the same as is a USA company.

It wouldn't be the same,  because Nvidia is not UK-listed, so you'd still get the reduced 15% rate. iWeb uses the W8-BEN to apply for the reduced rate of withholding tax on US-listed shares only. In fairness, they do state this on their website, and also that they don't reclaim the remaining 15% withholding tax on SIPPs:

This is one of things you'd need to go to a full-service provider in order to benefit from. iWeb is less competitive on its SIPP offering anyway, so it's not something that comes up often.

So wouldn't effect me? I just hold funds. Nvidia as an individual. And the a couple of investment trusts. So should be an issue?

masonic

Matt_22 said:

masonic said:

Matt_22 said:

The only share I have is Nvidia I guess that would be the same as is a USA company.

It wouldn't be the same,  because Nvidia is not UK-listed, so you'd still get the reduced 15% rate. iWeb uses the W8-BEN to apply for the reduced rate of withholding tax on US-listed shares only. In fairness, they do state this on their website, and also that they don't reclaim the remaining 15% withholding tax on SIPPs:

This is one of things you'd need to go to a full-service provider in order to benefit from. iWeb is less competitive on its SIPP offering anyway, so it's not something that comes up often.

So wouldn't effect me? I just hold funds. Nvidia as an individual. And the a couple of investment trusts. So should be an issue?

No, it won't affect you, but you'd need to complete a W8-BEN for your Nvidia dividends to get the reduced withholding rate.

[Deleted User]

Hi,

you could maybe keep some of your stuff that you're happy with, with provider now, and as you've transferred the majority there will be lesser fees to pay.