BT 2003 Annual Report Download - page 155

US information reporting and backup withholding
Dividends paid on and proceeds received from the sale or disposition of ordinary shares or ADSs may be subject
to information reporting to the IRS and backup withholding at a current rate of 30%. Certain exempt recipients
(such as corporations) are not subject to these information reporting requirements. Backup withholding will not
apply, however, to a Holder who provides a correct taxpayer identification number or certificate of foreign status
and makes any other required certification or who is otherwise exempt. US persons who are required to establish
their exempt status generally must furnish IRS Form W-9 (Request for Taxpayer Identification Number and
Certification). Non-US Holders generally will not be subject to US information reporting or backup withholding.
However, such Holders may be required to provide certification of non-US status in connection with payments
received in the United States or through certain US-related financial intermediaries.
Amounts withheld as backup withholding may be credited against a Holder’s US federal income tax liability.
A Holder may obtain a refund of any excess amounts withheld under the backup withholding rules by filing
the appropriate claim for refund with the IRS and furnishing any required information.
UK stamp duty
A transfer of an ordinary share will generally be subject to UK stamp duty or UK stamp duty reserve tax at 0.5%
of the amount or value of any consideration provided. A transfer of an ordinary share into a clearance service
or American depository system gives rise to a 1.5% charge of either the amount of the consideration provided
or the value of the share issued. No UK stamp duty will be payable on the transfer of an ADS (assuming it is not
registered in the UK), provided that the transfer documents are executed and always retained outside the UK.
UK inheritance and gift taxes in connection with ordinary shares and/or ADSs
Where an individual holder, who is not a UK national, of ordinary shares and/or ADSs falls within the scope
of the UK/US Estate and Gift Tax Convention, US-domiciled holders of ordinary shares and/or ADSs will not
generally be subject to UK inheritance tax on a gift of ordinary shares and/or ADSs if the gift is subject to US
federal gift tax. Similarly, ordinary shares and/or ADSs passing on the death of a US-domiciled shareholder, who
is not a UK national, will not generally be subject to UK inheritance tax if the estate is subject to US estate tax.
The rules and scope of domicile are complex and action should not be taken without advice specific to the
individual’s circumstances.
Exchange controls and other limitations affecting security holders
There are currently no government laws, decrees or regulations in the United Kingdom that restrict the export
or import of capital, including, but not limited to, UK foreign exchange control restrictions, or that affect
the remittances of dividends or other payments to non-resident holders of the company’s ordinary shares, except
as otherwise described in Taxation (US Holders) above and except in respect of the government of, or any resident
of, Iraq or any person treated as so resident. There are no limitations under the laws of the United Kingdom
restricting the right of non-residents to hold or to vote shares in the company.
Documents on display
All reports and other information that BT files with the US Securities and Exchange Commission may be inspected
at the SEC’s public reference facilities at Room 1200, 450 Fifth Street, Washington, DC, USA. These reports
may be accessed via the SEC’s website at www.sec.gov.
Publications
BT produces a series of reports on the company’s financial, economic, social and environmental performance.
Most of these reports, which are available to shareholders on request, can be accessed on the internet at
www.bt.com/investorcentre. More detailed disclosures on BT’s implementation of social, ethical and
environmental policies and procedures are available online through our fully and independently verified social
and environment report at www.bt.com/betterworld.
Document Publication date
Annual Review including summary financial statement June
Annual Report and Form 20-F June
Quarterly results releases July, November, February and May
Current Cost Financial Statements for the Businesses
and Activities and Statement of Standard Services (as required by Oftel) December
Social and Environment Report June
Statement of Business Practice September 2002
For printed copies, when available, contact the Shareholder Helpline on Freefone 0808 100 4141 or,
alternatively, contact the Registrar in the UK, at the address on page 155.
Additional information for shareholders
154 BT Annual Report and Form 20-F 2003