Free dividend from RBS as a taxpayer

DRS1

eskbanker said:

Lushoto said:

I’ve seen on social media that any taxpayer can go into any branch of RBS or NatWest and claim their share of the UK dividend. Apparently about £8,000. I can’t help feeling that this is one of those “if it seems too good to be true it probably is” stories.  I thought the RBS shares were held by the Treasury. Anyone heard this story? 

Lushoto said:

No apparently £8k EACH!  Saw it on Instagram! 

Great!  Why don't you toddle on down to your nearest RBS/NatWest branch and attempt to exercise this 'right', and report back?  We'll get the popcorn ready....

No need to leave home.

The dividend was paid yesterday.

So the Treasury has it now.

All you need to do is ask HMRC to set the £8k off against the tax you owe for 25/6 and pay you what is left

Lushoto

I’ve convinced myself and AN Other it was all a con. No such thing as a free lunch. But thank you all for the amusing comments. Back in my box again. 

eskbanker

Putting aside the fact that this was obviously ridiculous, a dividend entitlement of £8K per UK taxpayer would total circa £300 billion, which is not only many times the market capitalisation of NatWest but would also be about 12% of the UK's total GDP!

MeteredOut

I popped down the bank today - they said I was too late and needed to be there yesterday. Apparently the queues were round the block!

Lushoto

Hilarious. Thank you. Cried into my Pimms with laughing.