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A client has a substantial holding of Moller – Maersk shares held via an American depositary receipt (ADR). This company declared a dividend and a special dividend in March 2023; both were paid on 31 March 2023.
However according to the website (www.tipranks.com/stocks/amkby/dividends) the dividend payment by the ADR was on 17 April 2023. The dividend was over £100 000 so I should be grateful if someone can advise as to which tax year this dividend falls into.
As an aside Revenue and Customs Brief 14/12 indicates that the department regards an ADR as giving the owner a beneficial interest in the underlying shares so I am leaning towards 2022-23 as the answer.
Query 20 189 – Anchor.
Refer to HMRC Brief 14/12.
Appendix A of HMRC Brief 14/12 helpfully explains that depositary receipts (DRs) are substitute instruments indicating ownership...
