What is withholding tax?

 

Withholding tax is a tax levied by an overseas government on dividends or income received by non-residents. For example, the US government charges non-US residents’ withholding tax of 30% on any income received from US investments.  

The UK government has double taxation agreements (DTAs) in place with many countries to reduce the amount of tax paid by UK residents. In these circumstances, it may be possible for investors to reclaim all or part of the withholding tax paid. Read: Claiming Double Taxation Relief for companies and other concerns - GOV.UK (www.gov.uk)  

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