What is Withholding Tax?
Spanish withholding tax at a rate of 18% will be deducted in Spain when dividends are paid on your Santander Shares. In addition, if you are resident for tax purposes in the United Kingdom, in general you will be subject to UK income tax or corporation tax on the dividends. This is charged on the gross amount of dividend paid on the shares rather than the net amount received after any Spanish withholding tax has been deducted. Further information is available in the Dividends section of our website.
