Change of share registrar

nfs_daemon

Does anyone know if there are any rules/regulations on what happens to shareholder documentation when a company moves from one registrar to another?

I've got shares in SSE, and until Dec 2023 the registrar was MUFG (Link Asset/Signalshares as was), so all my dividend notices and other financial info was there.

After Dec 2023 the registrar was Computershare.

Computershare's site has documents after Dec 2023, MUFG has absolutely nothing from before.

I've contacted both, asking where my info is, but in the meantime it would be helpful to know if either or both registrars have a duty to retain/transfer this sort of thing.

TheGreenFrog

There are rules about keeping of the share register and making it available for inspection.  But payment of dividends and sending out of shareholder documentation is different - if you want details of dividends paid you may need to ask the company's investor relations department or similar.  Even then you may only get the amount paid per share.

nfs_daemon

Firstly MUFG have confirmed that they have no SSE data - in fact they are not authorised to hold any, so I'll see what Computershare say about making old dividend confirmations available.

In this case it wouldn't be hard for me to work out the numbers, as I was getting cash dividends, there've been no splits/consolidations/rights issues, and the dividend history will be on SSE's website.

But were I in a DRIP scheme, I'd need personalised data, showing b/f and c/f remains of payments, how much was invested, what the dealing costs were - a simple progression in the size of my holding would not be enough as I'd need the acquisition cost at each transaction to roll up the cost base for CGT purposes.

wmb194

nfs_daemon said:

Firstly MUFG have confirmed that they have no SSE data - in fact they are not authorised to hold any, so I'll see what Computershare say about making old dividend confirmations available.

In this case it wouldn't be hard for me to work out the numbers, as I was getting cash dividends, there've been no splits/consolidations/rights issues, and the dividend history will be on SSE's website.

But were I in a DRIP scheme, I'd need personalised data, showing b/f and c/f remains of payments, how much was invested, what the dealing costs were - a simple progression in the size of my holding would not be enough as I'd need the acquisition cost at each transaction to roll up the cost base for CGT purposes.

BIB. This is a reminder of why you need to keep your own records and not rely on third parties.

topyam

i am in situation with my late husband's shares.

Want info on dividends paid out when Link / MUFG were in charge. Think that some cheques at the time were never cashed. What happens if dividends aren't cashed? If MUFG say they have no info, is this money lost forever???

Also want info on tax paid on these dividends as i think i should be able to reclaim that if i can get the info on the dividends paid out…

Computershare have info from when they took over. Told me to contact mufg for any info.

Surely this info exists somewhere???

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81946847#Comment_81946847

You’re referring to SSE? If you have bank statements you could do some of your own sleuthing. Has MUFG said it has no data?

Dividends from British companies are paid gross.

You can find SSE’s dividend history here:

https://www.sse.com/investors/shareholder-services/dividends-and-scrip-scheme/dividend-history/

topyam

It's an Irish company so wanting to claim back Irish Dividend Witholding Tax.

I inherited the shares. Don't have bank statements or the original tax certificates.

Company say MUFG won't have this info anymore. Computershare don't have any info pre transfer.

Surely it exists somewhere?

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81947403#Comment_81947403

Which company? Have you asked MUFG?

Is it a large holding and does the company pay a large dividend? If not it might not be worth the effort: Irish dividend withholding tax is 25% but the UK/Ireland double taxation treaty rate is 15% so you'd only be able to claim the difference from the Irish tax authority.

DRS1

This may be of interest for unclaimed dividends. The law may be different in Ireland though. It is interesting that you could have as much as 12 years to claim for a UK company - I thought it would be 6.

Unclaimed Shareholdings, Dividends and Windfall Shares - UnclaimedAssets.co.uk

Are you trying to do your deceased husband's tax returns? How far back are you going? When my mother died I remember doing some tax returns for her but I don't think I went back more than a couple of years.

nfs_daemon

https://forums.moneysavingexpert.com/discussion/comment/81458618#Comment_81458618

These are financial institutions who are being paid to provide share registration facilities and to handle the processing of dividend payments, issuing tax vouchers, running re-investment schemes, managing the distribution of company communications…

I don't think that expecting them to have robust document archiving counts as "relying on third parties".

topyam

https://forums.moneysavingexpert.com/discussion/comment/81947438#Comment_81947438

Irish shares.

Now in my name.

Previously in husband's name.

Looking historic info as far back as ten years

Mufg say they don't have and Computershare have it

Computershare say they don't have and Mufg have it

So shouldn't be as difficult