Dividends Help

[MintsPi]

DP and his siblings/cousins were left shares by a relative which they each sold when they reached 18. A year and a half ago the solicitors that dealt with this contacted DP to say there was a sum of income from historic dividends to be sold.

He has just received this email and we don't quite understand what the second part means. Is the solicitor saying that he will take this amount as his fee or something else? For clarity the total income is to be split between 6.

No, not as his fee
he is proposing to hold 40% until all 6 clarify their tax positions, & it is decided how much tax should have been paid for each beneficiary. Some may be lower rate tax payers so could potentially get a bit more back.

• not just his fee

is mostly tax and some expenses which will presumably be his fee

Thank you so much for your reply. That makes things much clearer.