The content of this FAQ is for informational purposes only and should not be construed as financial advice or tax advice. We are not able to provide you with tax advice and we recommend that you obtain specific tax advice from your tax advisor or from a tax authority.
South African Residents
• Residence-based tax system
South Africa has a residence-based tax system, which means all South African residents are, subject to certain exclusions, taxed on their worldwide income, irrespective of where their income was earned.
• Double-Taxation Agreement (“DTA”)
South Africa also has a double-taxation agreement with the UK, which governs how taxes will be charged and paid between the two countries.
• Dividends Withholding tax (“DWT”)
The standard rate of Dividends Withholding Tax in the UK is 0%, which is the same as the DTA rate of 0% and therefore no DWT will be withheld.
• Annual Tax Certificate
Two to three months after the end of every South African tax year (end-February), EasyEquities will issue a tax certificate pertaining to all investment activity in your EasyEquities UK account, which you can download from the Reports section in your account. You'll need to use this tax certificate in the submission of your annual tax return.
• Capital Gains Tax
If you have made a capital gain on the sale of an instrument / instruments within your EasyEquities UK account within the tax year, then you may need to pay capital gains tax (depending on the amount of the gain), per the usual South African tax rules pertaining to capital gains.
Residents of other countries outside of South Africa
• If you are resident outside of South Africa, you will not be able to invest in a UK account