Readers’ forum: What year do dividends fall into?

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 of...