TO OBTAIN REPAYMENT OF OVERCHARGE 61
Most of the Dividend Warrants and all Bank Cer-
tificates show the amount of tax deducted. Keep
all these Certificates, etc., carefully, in case a repay-
ment claim is necessary. Companies do not like
issuing duplicates. Some absolutely refuse to do so,
and some others charge a fee in each case.
Dividends paid “ free of Income Tax ” are the net
sum after deduction of tax by the Company. Mul-
tiply the dividend by 20 and divide by 20 less the rate
of tax (in shillings) in force for the period covered by
the dividend—e.g., £70“ free of tax ” for 1919, when
the tax was 6s. in the £, represents £7020... 100,
so you set down—income, £100, tax paid, £30.
If your income includes dividends on Government
Stock registered in the name of the owner, and you
are claiming repayment, you will have to state the
full title of the stock, the name or names in which it
stands, the amount of stock held, whether it stands
by itself or as part of a larger sum, and the amount
and date of each dividend. No vouchers are needed.
The information given enables your statement to be
checked in the books of the Bank of England. You
need not give these details unless you are claiming
repayment. If, however, the dividends are payable
to bearer, get a certificate from the Bank, and annex
this when claiming repayment. For other dividends
than those on Government stock give only the name
of the stock and the income from it.
Untaxed interest should be set down as the figure
received in the previous year, not the year for which
the claim is made.