NB The information on this page is scheduled for review and update
CONTACT ADDRESSES
Company Shares :
CAPITA
The Registry,
34 Beckenham Road,
Beckenham,
Kent, BR3 4TU
Helpline: 020 8639 3333
Email: chevron@capita.co.uk
Nominee Share Plan holders can now obtain an online valuation of their fund on www.mychevronshares.com. You will need to obtain your Investor Code to gain access (and you can get this from Capita).
TAX ON COMPANY SHARES
1. US tax is deducted at the UK/US double taxation rate of 15%.
Depending on how you hold the shares you will periodically receive a US IRS form which needs to be completed and sent back to receive the reduced 15% tax rate. Care needs to be taken to ensure the form is properly completed.
2. On the UK Self Assessment Tax Return:
a. Page 2 – Q6 you need to tick boxes 1 and 3 plus the Foreign box.
b. Page F1- you need to complete sections A, B, C and E and tick box on right to claim foreign tax credit relief.
If you do this and do not receive the US 15% tax as a deduction on the tax calculation sent to you call your tax office and say you do not agree with the assessment as you have not received foreign tax credit.
The following link takes you to the UK GOV website and provides you with up-to date information on tax on dividends. http://www.gov.uk/tax-on-dividends
Note: If for any reason you have either not submitted a US IRS form or have incorrectly completed it you will be taxed at a higher rate but the UK HM Revenue and Customs will only credit 15%.
3. UK Capital Gains Tax (CGT)
If you hold shares in the nominee plan then any disposal of shares is not exempt from Capital Gains Tax (CGT). The following link will take you to the Government website with the up to date information on CGT. http://www.gov.uk/capital-gains-tax
CGT is a complex area and you will likely need to seek expert advice to ascertain the relevant prices to test against the CGT limit – Capita inherited share purchase information from the stock ownership plan administrator, Mourant, but are not in a position to validate the information held. If you are non-UK resident then you may also need to seek local advice to ensure that there are no tax implications of either holding Chevron Corporation shares or disposing of such shares in your country of residence..