Standard Life Aberdeen Shareholder FAQ's
Find answers to the questions we’re asked the most, including dividends, tax and updating your personal information securely.
Update your details
1. I've moved home. How do I update my address details?
There are two ways to update your address details:
- Online - login to the Standard Life Aberdeen share portal, look for 'Update your bank details' then follow the instructions
- By phone - contact Shareholder Services and ask for a change of address form
If you haven't used the share portal before, you’ll need to register for an account before you can update your details.
2. My email address has changed - what do I do?
You can update your email address online at the Standard Life Aberdeen share portal. Just login and follow the instructions in ‘Change your email’.
If you haven't used the share portal before, you’ll need to register for an account before you can update your details.
3. I've changed my bank account - how can I update my details?
There are three ways to update your bank details:
- Online – at the Standard Life Aberdeen Share Portal
- Call us on 0345 113 0045 or +44 (0)20 3367 8224 – we’re open Monday to Friday 8.30am-5.30pm. Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.
- Download a dividend form (PDF, 161KB) – complete parts 2 and 3 and send it back to us. If you haven't used the share portal before, you’ll need to register for an account before you can update your details.
4. I'm a Standard Life customer. Will my customer details be updated automatically as well?
No, for data protection purposes there’s no link between our shareholder and customer information. To update your details with Standard Life, visit one of the customer websites for local contact details:
1. What is a dividend?
If Standard Life Aberdeen makes a profit, our shareholders may get a share of this as a dividend payment. If we don’t perform well, dividends might be reduced or there may be no dividend paid at all.
2. When do you pay dividends?
We intend to pay our interim dividend in October and our final dividend in May each year.
3. What dividends have you paid?
Our dividend history page has full dividend payment listings for Standard Life Aberdeen plc, Standard Life plc and Aberdeen Asset Management PLC.
4. How will dividends be paid?
You can choose how you want to receive your dividend.
1. Reinvest your dividends in Standard Life Aberdeen plc shares
If you live in the European Economic Area (EEA), the EU, Iceland, Norway or Liechtenstein, you can join the dividend reinvestment plan (DRIP).
This lets you use your cash dividend payments to buy more shares in Standard Life Aberdeen plc through a special dealing arrangement. We don’t currently offer DRIP in Canada and other non-EEA countries.
2. A cash payment into your bank or building society account
This is an easy, fast and secure way to receive your dividends.
We pay dividends in three currencies. Most dividends are paid in pounds sterling. If you have a bank account in Ireland, Germany or Austria you can receive your dividend payment in euros, or in Canadian dollars if you have a bank account in Canada.
If you want to receive your cash dividend in a different currency, Link Asset Services provide a dividend currency option service. This service is available to shareholders who receive a dividend of £10 or more, and costs £5 per dividend. This fee is deducted in sterling before the balance is converted into your chosen currency.
3. Receive a cash dividend payment by cheque
If you don't choose to reinvest your dividends, or have them paid directly into your bank account, we’ll send you a cheque for the relevant amount.
You may be charged a fee to present this cheque, particularly if you live outside of the UK.
5. What if I buy or sell shares around the time of dividend payments?
Dividends are paid to all shareholders who are on Standard Life Aberdeen plc's share register at the close of business on the record date. This can be up to three months before the dividend payment date. If you buy or sell shares shortly before the record date this may affect whether you receive the next dividend payment. Check our financial calendar to see when the next record date is. For more information contact your Shareholder Services team or your broker.
6. How do I arrange for my dividends to be paid straight into my bank account?
There are two ways to do this:
- Login to the Standard Life Aberdeen share portal, look for 'Update your bank details' then follow the instructions
- Call your Shareholder Services team
7. How do I register for the dividend reinvestment plan (DRIP)?
There are several ways to sign up for DRIP:
- Log in to the Standard Life Aberdeen share portal and sign up
- Download a dividend form (PDF, 161KB), complete parts 2 and 3 and send it back to us
- Call your Shareholder Services team for a shareholder dividend form and a copy of the terms & conditions.
You can still sign up online even if you’re not registered for the Standard Life Aberdeen share portal.
8. I've lost my dividend cheque, how do I get a replacement?
Just get in touch with your local Shareholder Services team. There may be an administration charge for this.
1. Is my dividend classed as income?
Dividends received before 6 April 2016 have a notional tax credit of 10%. This notional tax credit is treated as meeting the basic rate liability. If you’re not a higher rate taxpayer, you have no further tax to pay. If you pay income tax at a higher rate, you’ll have further tax to pay but you’ll be able to offset the notional tax credit of 10% against any higher rate tax liability.
The cash dividend and tax credit need to be included in total income when considering the threshold for higher rate tax. When you complete a tax return, you should show the dividend and tax credit amounts separately. You’ll find this information on your dividend confirmation.
Dividends received on or after 6 April 2016 are subject to new tax rules. The 10% dividend tax credit is abolished for dividends received on or after 6 April 2016 and is replaced by a new tax-free dividend nil rate band ("Dividend Allowance"). The Dividend Allowance means that the first £5,000 of dividend income received is tax free no matter what other non-dividend income you have. When you complete a tax return you should show the dividend amount received on this return. You’ll find this information on your dividend confirmation.
Dividends within your Dividend Allowance will still count towards your basic or higher rate tax bands and may therefore affect the rate of tax that you pay on dividends you receive in excess of the £5,000 allowance.
From 6 April 2016 you’ll pay tax on any dividend income you receive over £5,000 at the following rates:
- 7.5% on dividend income within the basic rate band
- 32.5% on dividend income within the higher rate band
- 38.1% on dividend income within the additional rate band.
Republic of Ireland residents
The dividend will be subject to Irish tax. The tax liability will depend on your circumstances. Dividends received prior to 6 April 2016 have a 'notional' UK tax credit. This does not need to be included in your income, but you’ll not be able to reclaim this or set it off against any Irish tax liability you have. For dividends received on or after 6 April 2016 there is no longer a 'notional' UK tax credit.
2. Does Standard Life Aberdeen deduct tax from dividends?
Standard Life Aberdeen does not deduct tax from dividends. The company pays dividends from the profits it makes and has already paid tax on these profits. Therefore the dividend declared is the cash amount paid.
Before 6 April 2016, all UK dividends carried a tax credit equal to one-ninth of the dividend paid. This was purely a notional amount and Standard Life (pre merger) did not pay this tax to HMRC. As the tax credit was purely a notional amount, it was not possible to reclaim the tax credit if you were a non-tax payer. From 6 April 2016 this has been replaced by a Dividend Allowance which means that you don't pay tax on the first £5,000 of your total dividend income, no matter what non-dividend income you have.
3. Does Standard Life Aberdeen have a tax adviser I could speak to?
No, we can only give you general information, not advice on your specific circumstances. If you need specific advice you should contact a tax adviser or visit the HMRC website.
4. Will I be liable for Capital Gains Tax (CGT) on my shares?
This depends on your personal circumstances. We can’t give advice on potential CGT liabilities for individual shareholders. There is a CGT annual exemption which you can find on the HMRC website.
The cost of your shares for CGT purposes depends on how you acquired them. The cost of:
- Shares bought at the preferential rate as part of the Standard Life IPO on 10 July 2006 have a cost of £2.185 per share
- Bonus shares issued (pre merger) on 10 July 2007 is £3.24875 per share.
- Shares bought on the open market is the price paid.
For those UK resident and domiciled individual shareholders who received Standard Life Aberdeen PLC shares (New shares) in exchange for their Aberdeen Asset Management PLC shares (Scheme shares) under the all-share merger scheme on 14 August 2017, the cost for CGT purposes of their New shares should be the same as the cost of their Scheme shares and the New shares will be treated as having been acquired at the same time as the Scheme shares. Further information can be found in the Scheme circular
Remember, by giving you this information we are not offering tax advice. It is based on you being an individual shareholder, not a trustee, dealer, insurance company or having received your shares by virtue of an office or employment. If you are in any doubt about your tax position you should seek independent advice.
Bonus issue of shares on 10 July 2007
The receipt of bonus shares on 10 July 2007 will have an impact on your base cost for CGT purposes. The impact will depend upon how you were taxed on the bonus shares when you received them. Bonus shares received in respect of shares bought at the preferential rate of £2.185 per share (preferential shares):
If the value of the bonus shares received [at the time received] with respect to the preferential shares exceeded either 5% of the value of the preferential shares or £3,000, then the receipt of the bonus shares would have given rise to a capital gain as a part disposal of your preferential shares. For determining the value of the bonus shares you would use £3.24875 per bonus share received. In calculating the part disposal gain you would have had to allocate the base cost you had in the existing preferential shares between your existing preferential shares and the bonus shares.
That part disposal could, of course, have qualified for exemption under the annual exemption allowance for capital gains when taken together with any other capital gains for that year. The exemption was £9,200 for 2007/08. The base cost to be used in any future disposal would be a combination of the preferential share base cost (that part not used in the part disposal calculation) plus the value of the bonus shares. In this situation, therefore, you would use £3.24875 as the base cost of the bonus shares.
If, however, the part disposal qualified as a "small part disposal" and you elected for those rules to apply then you would have had to reduce the base cost of your preferential shares by the value of the bonus shares, using £3.24875 to calculate the value of the bonus shares for determining the amount of the deduction. A "small part disposal" would have been one where the value of the bonus shares (using £3.24875 per share) is less than 5% of the value of the preferential shares or £3,000.
Bonus shares received with respect to "free" shares received on demutualisation (demutualisation shares):
If you held any demutualisation shares and received bonus shares with respect to them, then this would have given rise to a capital gain equal to the value of the bonus shares (using £3.24875 per shares) and this gain would be subject to the annual exempt amount. The base cost of those bonus shares for any future disposal would be £3.24875 per share.
We reiterate that by giving you this information we are not offering tax advice and it is based on you being an individual shareholder, not a trustee, dealer, insurance company or having received your shares by virtue of an office or employment. If you are in any doubt as to your tax position you should seek independent advice.
5. Where can I find my dividend confirmation?
You can download your dividend confirmation from the Standard Life Aberdeen share portal.
6. I am a former Aberdeen shareholder. Will I have to pay tax on the exchange of my Aberdeen Asset Management PLC shares (Scheme shares) for Standard Life Aberdeen PLC shares (New shares) on 14 August?
For UK tax resident and domiciled individuals you should not be regarded as having disposed of your Scheme shares for CGT purposes. Remember, by giving you this information we are not offering tax advice. It is based on you being an individual shareholder, not a trustee, dealer, insurance company or having received your shares by virtue of an office or employment. If you are in any doubt about your tax position you should seek independent advice. Further information can be found in the Scheme document.
7. How is the Return of Value of 1 April 2015 taxed?
We have produced a guide with examples of how to apportion base cost relating to the return of value payment paid in April 2015. Please also see information on the Bonus issue of shares in the Capital Gains Tax question and answer.