BCPT dividend amount not what i was expecting?

🤝 Help
1

HI if any body could explain i held 129.1 shares in BCPT with dividend rights ,dividend announced was 0.25p per share so total should be 32.2p i only received 26p these shares are held in an isa so i understood that no tax was taken from reit any help or explanations would be very helpful …

2

hi mate,

It’s fine as PIDs are not except from TAX even inside a tax wrapper

3

So does it mean all dividends are going to be TAXed or only this kind?

4

All the PIDs yes, not the dividends or interest

5

If you don’t mind could you share legit and good source with some more information so I can read more about the subject?

6

sure mate

good place to start: https://monevator.com/how-property-income-distributions-pids-are-taxed/

7

Thank you, much appreciated :raised_hand_with_fingers_splayed:t2: :+1:t2:
This is really good read.

8

REITs distribute money in two different wrappers, ordinary dividends and PID (property income distribution) Pids are technically different from dividends. i.e you can’t claim them in your annual tax free dividend allowance etc.

Foreign dividends also get taxed (depending on the country) even before they reach your ISA.

This is not correct though. PIDs will be paid to your ISA gross. IF it has not been, this means the dividend issuer (in this case BCPT) is not aware that these payments are going into an ISA. This can be usually fixed by your ISA manager. Worst case scenario your ISA manager will claim tax credits back from HMRC if PIDs are already paid into your account after tax.

In any case contact support @Team212 and explain them the situation, depending on your luck, if you get a knowledgeable support staff, he’ll acknowledge the issue and you’ll get the missing amount back. (takes up to 4 weeks)
if you are unlucky you’ll have to go through to explain PIDs in ISAs should not be taxed, and if they got taxed accidentally ISA manager should claim the tax credits back.

I had to go through the same thing with “Derwent London” dividends last year June, it took me about an hour to explain on support chat :man_shrugging: good luck.

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