Treatment of uncashed dividend cheques by revenue.

Hi there,
Over the past few years I received dividend cheques with very small amounts ie €1.20 to I think the biggest was a whopping €4 euro on one particular. In total over about 8 year I'd say they amounted to no more than €20 in total. As they were so small and woukd cost more to cash or lodge be it in bank charges or time I used to just put them in a file. Also each one said there was withholding tax applied so I thought no more of it. What's best approach to sort this with revenue eventhough I physically never cashed /received the monies so I don't get a but'rning at the stake down the line. Could it be a large bill for unpaid / cumulative interest in the making. Thanks

Whether you lodge/cash the cheques or not is not relevant.

When you say witholding tax do you mean DWT was applied?


I suggest simply declaring the 20 euro as dividend income in your next Form 12 income tax return.

Suggest you update the payment method to a direct payment your account and save on this unnecessary administrative burden, to yourself and the company in question

Almost certainly such a trivial amount is not going to cause you any problems with Revenue. If you want to regularise the situation then maybe do as @Protocol suggests above. If the dividend amounts are so small then perhaps the shareholding value is also small and you might be better off just selling the shares unless this investment is somehow a key part of your overall portfolio?

Thanks all for the advice. I actually totted them up and even missing 2 of the cheques. Total was only just above 50 gross with just over12 held in dividend withholding tax by issuers over 8 yrs. So 38 euro odd of uncashed cheques sitting in an envelope. I would have thought if I approached revenue and explained it could be sorted or is that a simplistic thought. Might also just dispose of the shares later. But now the feckers are actually rising slowly in value so depending on sorting this mess and copping on to the requirement going forward might hold.

There is no need to approach Revenue.

Simply declare the 50 gross dividend income in your next Form 12 tax return.

Thanks "protocol". It will be my first form 12 I think ever but no harm doing it. Do the med 1 every year but never the form 12. Always took the view that revenue and employer were doing enough as a paye worker. Could never see the point. Thanks anyway.

When you say do a "med 1" every year; do you mean filing a return via your Revenue myaccount where you add health expenses? The reason I ask is med 1s have been gone for years and pretty much everything is online via your tax return through your Revenue myaccount. Your annual tax return filed via your Revenue myaccount is the "form 12".

Correct I always refer to it by old form. But ya I have being doing that for last gonna say 4yrs plus ie using online to submit my med expenses as they be hefty. But only open the revenue website once to do this per Yr hence the unfamilarity. so I can do this as you say on there and make submission there fir the full value accimilated from all the cheques. Moral of the story. Cash /Lodge cheque in future and incl in the form 12 subsequently also. My theory was incorrect ie if I don't cash or lodge them cause so small I wouldn't be liable as I made no gain. Thanks again for setting me straight.

So you have been doing annual tax returns, okay.

During this process, there is space to add any additional incomes.

Employers don't know about additional incomes, so how could the tax be paid by them?

Income is income, no matter what you do with the cheque, bank transfer, bundle of cash, etc.

How the income is paid to you is not directly relevant.

I see. That's what I didn't /find hard to get head about. OK paye the employer deductd the tax and sends it off. And ya should prob check on ocasion. Additional income wouldn't be covered by them as you say because they wouldn't know of it or be expected to. Hence it be my or any individual responsibility to report this on the form 12. But the bit that I don't get is and take the example here. I got a cheque or received them for paltry figs ie 1, 2 or even 5 euro. I didn't cash em so I didn't benefit but yet I'd be responsible for the tax element of them so eg the fig was 8 gross with 2 deducted at source by issuer for dividend withholding tax resulting in cheque issuing for 6 euro. I decide not to cash it but also must or should highlight this dividend to revenue who if I'm in the high tax will charge me another say close on 25 percent ie 2 euro eventhough I didn't get or have the benefit of the 6 euo check in my account.Ie the income never materialised. So it costs me the 2 euro in tax for the cheque just landing in the post and being filed away. Funny old world. But this was an eye opener.

This isn't remotely difficult: you got paid (by cheque) and you have tax responsibilities arising from getting paid.

It would be no different if you got paid a wages cheque and threw it into the fire.

Instead of whinging about it, you should ask yourself why you're probably the last person in your town getting paid dividends by cheque.

T McGibney said:

Instead of whinging about it, you should ask yourself why you're probably the last person in your town getting paid dividends by cheque.

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And if the dividends cause such hassle then maybe just sell the shares (even if they're rising in value lately) and be done with it. And, if necessary, invest in unit linked funds or shares that don't pay dividends so that dealing with dividend income tax will no longer be an issue.

On a related "shares' matter - hope it is ok to jump in here with a query. We held a few thousand AIB, Bank of Ireland and other bank shares when they all went belly up during the crash. As they're of no value now so can't sell them, how to I claim the loss with Revenue so I can use it against any gains in the coming year?

BoI shares have some value, they are about 8 - 10 euro each.

Similarly, both AIB and PTSB shares trade on the stock exchange.

Your shareholding was probably heavily diluted.

It is just Anglo that was wiped out completely.


You can of course sell shares, make a loss, and use the capital loss against capital gains in this or future years.

You claim the loss when you submit the CG1 form to Revenue.

Broadcaster said:

As they're of no value now so can't sell them, how to I claim the loss with Revenue so I can use it against any gains in the coming year?

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Google "Revenue CGT shares negligible value" and you'll find some relevant info.

Thanks Protocol and Clubman for your advice. Much appreciated.