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Stamp Taxes on Shares Manual
Publication Date: 2025
Publisher: Bloomsbury Professional
Copyright: 2025 Crown
Stamp Taxes on Shares Manual
Guidance on Stamp Taxes on Shares and other Securities - Stamp Duty and Stamp Duty Reserve Tax (SDRT)
Last update: 28th February 2025
Contents
- Close sectionSTSM010000: Introduction to stamp duty on shares and Stamp Duty Reserve Tax (SDRT): contents
- Close sectionSTSM011000: Stamp Duty and SDRT basics: contents
- STSM011010: What is Stamp Duty?
- STSM011015: Stamp Duty- new method of stamping
- STSM011020: What is Stamp Duty Reserve Tax?
- STSM011030: Interaction with Stamp Duty Land Tax
- STSM011040: Chargeable instruments and other documents
- STSM011045: Transfer of IP &/or Goodwill with Stock or Marketable Securities
- STSM011050: Fixed duties
- STSM011060: Certificate of value
- STSM011070: The Stamp Duty (Exempt Instruments) Regulations 1987
- STSM011080: Abolition Legislation in place
- STSM011090: Stamp Duty - rates of duty
- Close sectionSTSM012000: More about Stamp Duty and SDRT
- STSM012010: Interaction between Stamp Duty and Stamp Duty Reserve Tax
- STSM012020: Stamp Duty - the Adjudication process
- STSM012030: Stamp Duty - facts and circumstances at the date of execution
- STSM012040: Stamp Duty Reserve Tax - the relevant day
- STSM012050: Stamp Duty Reserve tax - the accountable date
- STSM012060: Stamp Duty Reserve Tax - interaction with CREST
- Close sectionSTSM013000: Stamp duty rates
- Close sectionSTSM014000: SDRT rates
- Close sectionSTSM015000: Stamp duty - payment and penalties
- STSM015010: Who pays Stamp Duty?
- STSM015020: Penalties for late stamping
- STSM015030: Penalties - Mitigation
- STSM015040: Acceptable and unacceptable excuses for delay
- STSM015050: Interest on unpaid duty
- STSM015060: The consequences of not stamping a document
- STSM015070: Refusal of an unstamped document
- Close sectionSTSM016000: SDRT - the liable person
- Close sectionSTSM017000: How to pay
- Close sectionSTSM011000: Stamp Duty and SDRT basics: contents
- Close sectionSTSM020000: Scope of Stamp Duty on shares: contents
- Close sectionSTSM021000: Stamp Duty - basics of a charge: contents
- STSM021010: Overview
- STSM021020: Essentials of a sale
- STSM021030: Extent of the charge
- STSM021040: What are stock and marketable securities?
- STSM021050: Chargeable consideration: Cash
- STSM021060: Chargeable consideration: stock or marketable securities
- STSM021070: Chargeable consideration: Debt
- STSM021080: Debt: Debt released - examples
- STSM021090: Debt assumed: examples
- STSM021100: Future cash: Examples
- STSM021110: Future stock or marketable securities: Examples
- STSM021120: The contingency principle
- STSM021130: Dividend in specie
- STSM021140: Exchange of shares
- STSM021150: Grant of an option
- STSM021160: Principal Instrument
- STSM021170: Transfer in contemplation of a sale
- STSM021180: Company Takeovers
- STSM021190: Block Transfers
- STSM021200: Bulk purchases by PEP & Investment Portfolio Managers
- STSM021210: Transfer of partly paid up shares
- STSM021220: Transfer of Loan Capital
- STSM021230: Transfer of Convertible Notes
- STSM021240: Transfer of Permanent Interest Bearing Shares
- STSM021245: Transfer of Hybrid Capital Instruments
- STSM021245A: Exemption for transfers of Hybrid Capital Instruments
- STSM021247: Securitisation and insurance-linked securities (ILS)
- STSM021250: A to A transfers
- STSM021260: Company purchasing its own shares
- STSM021270: Transfer of an interest in a partnership
- STSM021280: Shares held on an Overseas Branch Register
- STSM021290: Transfer following failure to lodge a renounceable letter of allotment
- STSM021300: Reliefs
- STSM021305: Transfers of listed securities and connected persons: contents
- STSM021310: Transfers of listed securities and connected persons: How Stamp Duty is to be calculated
- STSM021320: Transfers of listed securities and connected persons: Market Value calculation
- STSM021330: Transfers of listed securities and connected persons: Listed securities
- STSM021340: Transfers of listed securities and connected persons: Connected company and connected persons
- STSM021400: Transfers of unlisted securities to connected companies - contents
- Close sectionSTSM022000: Stamp Duty - adjudication, stamps and reliefs
- STSM022010: The adjudication procedure
- STSM022020: General adjudication procedure
- STSM022030: Finality of adjudication
- STSM022040: Reasons for adjudication
- STSM022050: A “particular stamp”
- STSM022060: Adjudication of copy documents
- STSM022070: Formal Notice of Decision on Adjudication
- STSM022080: Authority to issue a formal determination of the duty due
- STSM022090: The appeal procedure
- STSM022100: Compulsory adjudication
- STSM022110: Intra-Group Relief
- STSM022120: Company Reconstructions
- STSM022130: Acquisition of target company's share capital
- STSM022140: Acquisitions by charities
- STSM022150: Formation of a Limited Liability Partnership
- STSM022160: Transfer of a partnership interest
- STSM022170: Maintenance Funds for Historic Buildings
- STSM022180: Demutualisation of Insurance Companies
- STSM022190: Transfer in contemplation of a sale
- STSM022200: Mergers of AUTs
- STSM022210: Sales to Intermediaries
- STSM022220: Sales to Options Intermediaries
- STSM022230: HMRC approved intermediaries
- STSM022240: Repurchases and Stock Lending
- Close sectionSTSM021000: Stamp Duty - basics of a charge: contents
- Close sectionSTSM030000: Scope of SDRT: contents
- STSM031010: Rates of tax
- STSM031020: Territorial scope
- STSM031030: The principal charge
- STSM031040: Agreement to transfer
- STSM031050: Conditional and unconditional agreements
- STSM031060: Consideration: money or money's worth
- STSM031070: Calculation of the tax
- STSM031080: Unit trusts
- STSM031090: Chargeable securities - general
- STSM031100: Chargeable securities - stocks, shares and loan capital
- STSM031110: Chargeable securities - interests, dividends and other rights
- STSM031120: Chargeable securities - options to acquire and rights to allotment or subscription
- STSM031130: Chargeable securities - units under a unit trust scheme
- STSM031140: Instalment arrangements
- STSM031150: Relationship with stamp duty
- STSM031160: Reliefs and exemptions
- STSM031170: Interaction with stamp duty and exemptions
- STSM031200: Transfers of listed securities and connected persons: Contents
- STSM031210: Transfers of listed securities and connected persons: How SDRT is to be calculated
- STSM031220: Transfers of listed securities and connected persons: Market Value calculation
- STSM031230: Transfers of listed securities and connected persons: Listed securities
- STSM031240: Transfers of listed securities and connected persons: Connected company and connected persons
- STSM031250: Transfers of listed securities and connected persons: CREST reporting
- STSM031300: Transfers of unlisted securities to connected companies - Contents
- Close sectionSTSM040000: Exemptions and reliefs: contents
- Close sectionSTSM041000: Exemptions: contents
- STSM041010: ‘Exemption’ or ‘relief’
- STSM041020: Securities exempt from stamp duty are generally exempt from SDRT
- STSM041030: Stamp Duty Reserve Tax (SDRT) repaid/charge cancelled where an instrument is duly stamped
- STSM041040: Government securities and miscellaneous exemptions
- STSM041050: Loan capital exemption (Stamp Duty) - general
- STSM041060: Loan capital exemption - exceptions
- STSM041065: Hybrid Capital Instruments
- STSM041067: Securitisation and insurance-linked securities (ILS)
- STSM041070: Loan capital exemption - miscellaneous
- STSM041080: Securities issued or rasied by non-UK companies (SDRT)
- STSM041090: Granting/issuing of options
- STSM041100: Permanent Interest Bearing shares (PIBs)
- STSM041110: Sales of Bearer securities - general
- STSM041120: Sales of Bearer securities - exemptions
- STSM041130: Issue of company stocks and shares
- STSM041140: Interests in Depositary Receipts and equities within unelected Clearance Services
- STSM041150: Charities - Stamp duty exemption
- STSM041160: Charities - Stamp Duty Reserve Tax (SDRT) exemption
- STSM041170: Charities - CREST and Stamp Duty Reserve Tax (SDRT)
- STSM041180: Depositary Interests in foreign securities
- STSM041190: Other non-Stamp Duty Acts that apply to stamp duty
- STSM041200: Units in a unit trust scheme or shares in an open-ended investment company
- STSM041210: Authorised unit trust scheme (and OEIC) mergers
- STSM041220: Conversion of an authorised unit trust to an OEIC
- STSM041230: Amalgamation of an authorised unit trust with an open-ended investment company
- STSM041240: Demutualisation of Insurance Companies
- STSM041250: Treasury shares
- STSM041260: Growth market shares - stamp duty exemption
- STSM041270: Growth market shares - SDRT exemption
- STSM041280: Growth market shares - SDRT exemption - depositary interests/CREST depositary interests
- STSM041285: Growth market shares - SDRT and Stamp Duty exemption - Depositary Receipts
- STSM041290: Growth market shares - recognised growth markets - how to qualify as a recognised growth market
- STSM041300: Growth market shares - recognised growth markets - how to qualify as a recognised growth market - the market capitalisation condition
- STSM041310: Growth market shares - recognised growth markets - how to qualify as a recognised growth market - 20% compounded annual growth test condition
- STSM041320: Growth market shares - recognised growth markets - how to qualify as a recognised growth market - application process
- STSM041330: Growth market shares - recognised growth markets - list of recognised growth markets (RGM)
- STSM041400: Exemptions for Share Incentive Plans
- STSM041500: Financial institutions in resolution- overview
- STSM041510: Financial institutions in resolution - resolution stabilisation options
- STSM041520: Financial institutions in resolution - supplemental, reverse and onward transfers
- STSM041530: Financial institutions in resolution - stamp duty exemption on certain transfer instruments and orders
- STSM041540: Financial institutions in resolution - SDRT exemption on certain transfer instruments and orders
- STSM041550: Financial institutions in resolution: stamp duty - exceptions
- STSM041560: Qualifying Asset Holding Companies
- Close sectionSTSM042000: Reliefs: contents
- STSM042020: Public issues - general
- STSM042030: Public issues - exceptions
- STSM042040: Public issues - underwriting
- STSM042050: Intermediary Relief (FA 1986 sections 80A & 88A) - general
- STSM042060: Intermediary Relief - ‘Bona fide dealer in chargeable securities’
- STSM042070: Intermediary Relief - recognition of intermediary
- STSM042075: Intermediary Relief - Information required for an application to HMRC
- STSM042080: Intermediary Relief - excluded business
- STSM042090: Intermediary Relief - hedging
- STSM042100: Intermediary Relief - shares regularly traded
- STSM042105: Intermediary Relief -shares regularly traded only on an multilateral trading facility (MTF)
- STSM042110: Intermediary Relief - applying to a market to be a recognised intermediary
- STSM042120: Intermediary Relief - Stamp Duty and SDRT compliance
- STSM042130: Stock lending and repurchase relief - general
- STSM042140: Stock lending and repurchase relief - the relief
- STSM042150: Stock lending and repurchase relief - conditions for relief
- STSM042160: Stock lending and repurchase relief - agency stock borrowing
- STSM042170: Stock lending and repurchase relief - obtaining relief
- STSM042180: Stock lending and repurchase relief - charge reinstated
- STSM042190: Stock lending and repurchase relief - insolvency of one party
- STSM042200: Stamp duty group relief - general
- STSM042210: Stamp duty group relief - SDRT implications
- STSM042220: Stamp duty group relief - bodies corporate
- STSM042230: Stamp duty group relief - transfer of beneficial interest
- STSM042240: Stamp duty group relief - loss of beneficial ownership
- STSM042250: Stamp duty group relief - company purchase of own shares
- STSM042260: Stamp duty group relief - foreign companies
- STSM042270: Stamp duty group relief - ‘arrangement’
- STSM042280: Stamp duty group relief - independent transactions
- STSM042290: Stamp duty group relief - company in liquidation
- STSM042300: Stamp duty group relief - Statement of Practice 3/98
- STSM042310: Stamp duty group relief - making a claim
- STSM042320: Stamp duty group relief - bars to relief and failed claims
- STSM042330: Circumstances in which intra-group transfer will not cancel an SDRT charge
- STSM042340: Central Counterparty clearing relief from stamp duty and SDRT
- STSM042350: Company reconstructions and acquisitions - general
- STSM042360: Company reconstructions and acquisitions - ‘Bona fide commercial reasons’ and ‘tax avoidance’
- STSM042370: Company reconstructions and acquisitions - Section 75 - conditions for relief
- STSM042380: Company reconstructions and acquisitions - Section 75 - ‘undertaking’
- STSM042390: Company reconstructions and acquisitions - Section 75 - ‘reconstruction’
- STSM042400: Company reconstructions and acquisitions - Section 75 - issue of shares and ‘shareholder’
- STSM042410: Company reconstructions and acquisitions - Section 77 - conditions for relief
- STSM042415: Company reconstructions and acquisitions - Section 77 - “shares” or “share capital” includes “stock”
- STSM042420: Company reconstructions and acquisitions - ‘or as nearly as may be the same’
- STSM042430: Suggested S77 claim letter
- STSM042440: Suggested S75 claim letter
- STSM042450: Checklist for S75 and S77 claims
- STSM042460: Section 77A -Disqualifying arrangements
- STSM042470: Section 77A - Arrangements that are not disqualifying arrangements
- STSM042475: Section 77A - Example Transaction A
- STSM042480: Section 77A - “Particular person” or “particular persons together”
- STSM042485: Section 77A - Example Transaction B
- STSM042490: Section 77A - Initial Public Offering and Underwriters
- STSM042500: Section 77A - Relevant mergers
- STSM042510: Section 77A - voluntary liquidation of a company
- STSM042520: Section 77A - Capital Reduction Demergers
- STSM042530: Section 77A - Capital Reduction Demergers - Example One
- STSM042540: Section 77A - Capital Reduction Demergers - Example Two
- STSM042550: Section 77A - Capital Reduction Demergers - Example Three
- STSM042560: Section 77A - Capital Reduction Demergers - Example Four
- Close sectionSTSM041000: Exemptions: contents
- Close sectionSTSM050000: Depositary receipt and clearance services: contents
- Close sectionSTSM051000: Depositary receipt
- Close sectionSTSM052000: Clearance services
- Close sectionSTSM053000: 1.5 per cent higher rate charge: contents
- STSM053010: When a higher rate charge arises
- STSM053020: Stamp Duty - relevant securities
- STSM053030: Stamp Duty Reserve Tax - chargeable securities
- STSM053040: Stamp Duty Reserve Tax cancelled where Stamp Duty paid on a transaction
- STSM053050: Arrangement
- STSM053060: Instalment arrangements - shares issued/transferred direct to a depositary receipt issuer or clearance service
- STSM053070: Instalment arrangements - shares issued/transferred to a third party until the last instalment is paid
- STSM053080: Changes from 1 January 2024
- STSM053090: Removal of the charge on issues
- STSM053100: Exempt capital raising transfers and exempt capital raising instruments
- STSM053110: Exempt listing transfers and exempt listing instruments
- STSM053120: Transfers of treasury shares
- Close sectionSTSM054000: Calculation of 1.5 per cent Stamp Duty/Stamp Duty Reserve Tax charge
- Close sectionSTSM055000: Scope of 1.5 per cent charge
- STSM055010: 1.5 per cent Stamp Duty charge - transfer of securities
- STSM055020: 1.5 per cent Stamp Duty charge - overseas branch register
- STSM055030: Allotment Letter and Renounceable Letter of Allotment
- STSM055040: 1.5 per cent Stamp Duty charge - rights represented by an allotment letter or renounceable letter of allotment
- STSM055050: Stamp Duty Reserve Tax - issue and transfer of securities
- STSM055060: Stamp Duty Reserve Tax - issue of a nil paid allotment letter or renounceable letter of allotment
- STSM055070: Stamp Duty Reserve Tax - issue of a partly/ fully paid allotment letter or renounceable letter of allotment
- STSM055080: Stamp Duty Reserve Tax - secondary trading of rights and delivery of an allotment letter or renounceable letter of allotment
- STSM055090: Stamp Duty Reserve Tax - secondary trading of allotment letter / RLA already deposited with a depositary receipt issuer or clearance service
- STSM055100: Stamp Duty Reserve Tax - overseas branch register
- STSM055110: Stamp Duty Reserve Tax - bearer securities
- STSM055120: Stamp Duty Reserve Tax - mandatory stock dividend
- STSM055130: Stamp Duty Reserve Tax - optional stock dividend paid with registered shares
- STSM055140: Stamp Duty Reserve Tax - Dividend Re-Investment Plan - registered shares
- STSM055150: Stamp Duty Reserve Tax - optional share reserve stock dividend paid with an issue of shares
- STSM055160: Stamp Duty Reserve Tax - share reserve Dividend Re-Investment Plan - new issued shares
- STSM055170: Stamp Duty Reserve Tax - transfer from or within a 1.5 per cent clearance service
- Close sectionSTSM056000: Liable and accountable person
- Close sectionSTSM057000: Depositary receipt and clearance services: exemptions/reliefs: contents
- STSM057010: Transfers between depositary receipt issuers and/or unelected clearance services
- STSM057020: Transfers to depositary receipt issuers and unelected clearance services
- STSM057030: Non-sterling currency United Kingdom bearer instruments
- STSM057040: Bonus shares
- STSM057050: Unsecured loan capital
- STSM057055: Hybrid Capital Instruments
- STSM057060: Securities issued or raised by companies incorporated outside of the United Kingdom
- STSM057070: Replacement securities
- STSM057080: United Kingdom sterling denominated bearer instruments
- STSM057090: Takeovers (share-for-share exchanges)
- Close sectionSTSM058000: Alternative clearance service charge
- Close sectionSTSM060000: Bearer instruments: contents
- Close sectionSTSM061000: Introduction: contents
- Close sectionSTSM062000: Bearer Instrument Duty
- Close sectionSTSM063000: Rate and calculation of Stamp Duty on bearer instruments
- Close sectionSTSM064000: Bearer Instrument duty - exemptions
- Close sectionSTSM065000: Procedures for denoting and stamping bearer instruments
- Close sectionSTSM066000: Bearer Instrument duty - compliance
- STSM066010: Introduction
- STSM066020: Interest charge - transfer of bearer stock
- STSM066030: Penalty on late notification of an issue of a bearer instrument
- STSM066040: Penalty on late notification and payment of bearer instrument stamp duty on a transfer
- STSM066050: Bearer instrument - imposition of a penalty for false statement
- Close sectionSTSM067000: Bearer Instruments-SDRT
- STSM067010: Interaction between Stamp Duty & Stamp Duty Reserve Tax (SDRT)
- STSM067020: Issue of a sterling denominated bearer security by a United Kingdom company
- STSM067030: Issue of a bearer security by a non-UK company
- STSM067040: Non-sterling currency UK bearer instrument
- STSM067050: UK loan capital bearer instrument denominated in currency other than sterling
- STSM067060: Depositary Receipt Issuers: Clearance Service - Non sterling currency UK bearer Instruments
- STSM067070: Renounceable Letter of Allotment
- Close sectionSTSM070000: Companies and shareholders: contents
- Close sectionSTSM071000: Introduction: contents
- STSM071010: Types of company
- STSM071020: Sources of capital
- STSM071030: Types of share
- STSM071040: Evidence of ownership - registered shares
- STSM071050: Evidence of ownership - bearer shares
- STSM071060: Changes of share ownership
- STSM071070: Issues of shares in public companies
- STSM071080: Offers for sale and placings
- STSM071090: Trading shares in the secondary market
- STSM071100: Corporate actions
- STSM071110: Transfers of listed securities and connected persons
- Close sectionSTSM072000: Rights issues
- STSM073000: Depositary interests: UK DI's in Foreign Securities- background
- STSM074000: Employee Share Incentive Plans
- Close sectionSTSM075000: Company's purchase of own shares
- STSM076000: Overseas Branch Registers
- Close sectionSTSM077000: Company takeovers
- STSM077010: Background
- STSM077020: Compulsory acquisitions
- STSM077030: Stamp Duty on block transfer
- STSM077040: Calculation of Stamp Duty - cash consideration
- STSM077050: Calculation - consideration as shares
- STSM077060: Calculation - consideration as cash and/or shares
- STSM077070: Schemes of arrangement
- STSM077080: Relief for company acquisitions and reconstructions
- Close sectionSTSM078000: Scrip dividends and stock dividends
- Close sectionSTSM071000: Introduction: contents
- Close sectionSTSM080000: Trusts and pension schemes: contents
- Close sectionSTSM081000: Trusts
- STSM081010: Overview
- STSM081020: What is a trust?
- STSM081030: Types of trust
- STSM081040: Settlements
- STSM081050: Settlors
- STSM081060: Declarations of trust
- STSM081070: Stamp Duty on declarations of trust on or after 13 March 2008
- STSM081080: Agreement or contract for the transfer of stock, marketable securities or chargeable securities incorporating a declaration of trust
- STSM081090: Trust documents not required to be presented for stamping
- Close sectionSTSM082000: Pension schemes
- STSM082010: Overview
- STSM082020: What are they?
- STSM082030: Stamp Duty and Stamp Duty Reserve Tax on investments
- STSM082040: Mergers of pension schemes
- STSM082050: Member leaves scheme and commences a Personal Pension Scheme
- STSM082060: Contributions of assets to an occupational pension, personal pension scheme or Self Invested Personal Pension - general
- STSM082070: Contributions of assets to an occupational pension, personal pension scheme or Self Invested Personal Pension - s195 FA 2004
- STSM082080: Transfer of assets where the sole consideration is issue of life policy
- STSM082090: Pension Funds Pooling Schemes
- STSM082100: Pension Funds Pooling Schemes - Stamp Duty and Stamp Duty Reserve Tax treatment
- STSM082110: Common Investment arrangements
- Close sectionSTSM081000: Trusts
- Close sectionSTSM090000: Partnerships: contents
- Close sectionSTSM091000: Partnerships and partnership interests
- Close sectionSTSM092000: Changes in a partnership
- STSM092010: Contributions to a new partnership
- STSM092020: Introduction of a new partner to an existing partnership
- STSM092030: Incorporation of a Partnership and Formation of an LLP
- STSM092040: Merger of partnerships
- STSM092050: Dissolution of a partnership
- STSM092060: Evaluating a document effecting a dissolution of a partnership or retirement of a partner
- Close sectionSTSM093000: Other partnership transactions
- Close sectionSTSM100000: Collectives: contents
- Close sectionSTSM101000: Introduction to Collective Investment Schemes
- STSM101010: What is a Collective Investment Scheme?
- STSM101020: What is a Unit Trust?
- STSM101030: Authorised Investments Funds - General
- STSM101040: Unauthorised Unit Trust
- STSM101050: What is an Open-Ended Investment Company (OEIC)?
- STSM101060: Exchange Traded Fund - Overview
- STSM101065: Exchange Traded Fund: Stamp Duty and SDRT
- STSM101070: Classes of units and OEIC shares
- STSM101080: Umbrella Collective Investment Schemes
- STSM101090: Open and Closed-Ended Investment Companies
- Close sectionSTSM101200: Authorised Contractual Schemes
- STSM102000: Transfer of units in a unit trust or units issued as consideration
- Close sectionSTSM103000: The Schedule 19 charge
- STSM103005: Charge on units surrendered prior to 30 March 2014: Abolition
- STSM103010: Overview of FA 1999, Sch 19
- STSM103020: Stamp Duty Reserve Tax charge
- STSM103030: Rate of Stamp Duty Reserve Tax
- STSM103040: Market value of units and OEIC shares
- STSM103050: Liable and Accountable Person
- STSM103060: Accountable date
- STSM103070: Relevant two-week period
- STSM103080: Scope of Stamp Duty Reserve Tax charge
- Close sectionSTSM104000: Calculation of the charge
- STSM104010: Stamp Duty Reserve Tax charge on surrender value
- STSM104020: Reduction of Stamp Duty Reserve Tax where surrenders exceed issues
- STSM104030: Income and Accumulation units
- STSM104040: Classes of shares in Open-Ended Investment Company
- STSM104050: Cancelled / Altered deals
- STSM104060: Reduction of Stamp Duty Reserve Tax where exempt investments are held by a fund
- STSM104070: Meaning of ‘Average Value’ for the N(N+E) calculation
- STSM104080: Information required in a monthly Stamp Duty Reserve Tax notice
- STSM104090: Example data for monthly SDRT FA 1999, Sch 19 computation - Annex A
- STSM104100: 1st example data for monthly SDRT computation involving negative surrender/issue figures - Annex B
- STSM104110: 2nd example data for monthly SDRT computation involving negative surrender/issue figures - Annex C
- Close sectionSTSM105000: Exemptions
- STSM105010: Exempt collective investment schemes
- STSM105020: Exempt investments - interests other than in collective investment schemes
- STSM105030: Exempt investments - interests other than in collective investment schemes - Depositary Interests and non-UK incorporated companies
- STSM105040: Exempt investments - interests other than in collective investment schemes - derivatives
- STSM105050: Exempt investments - interests in other collective investment schemes
- STSM105060: Exempt investments - interests in other collective investment schemes - practicalities
- STSM105070: Exempt investments - interests in other collective investment schemes - chains of funds
- STSM105080: Exempt investments - interests in other collective investment schemes - mistakes
- STSM105090: Feeder fund to a Property AIF
- STSM105100: In specie redemptions
- STSM105105: In specie redemptions on or after 30 March 2014
- STSM105110: Individual Pension Account
- Close sectionSTSM106000: Third party matters
- Close sectionSTSM107000: Contributions, mergers and other matters
- STSM107010: Overview - contribution to a unit trust / Open-Ended Investment Company
- STSM107020: Contribution to an existing unit trust / Open-Ended Investment Company
- STSM107030: Pro rata in specie contribution to an existing unit trust / Open-Ended Investment Company
- STSM107040: Investments acquired by, or transferred to, a collective investment scheme
- STSM107050: Conversion of an authorised unit trust to an Open-Ended Investment Company
- STSM107060: Amalgamation of an authorised unit trust with an open-ended investment company
- STSM107070: Merger of authorised unit trusts
- STSM107080: Mergers, partitions and reconstructions of authorised unit trusts and Open-Ended Investment Companies - Stamp Duty Reserve Tax
- STSM107090: Mergers, partitions and reconstructions of authorised unit trusts and Open-Ended Investment Companies - Stamp Duty
- STSM107100: Termination of a collective investment scheme
- STSM107110: Fund supermarkets
- STSM107120: Fund supermarkets - Stamp Duty Reserve Tax implications
- STSM107130: Fund supermarkets - switching
- Close sectionSTSM101000: Introduction to Collective Investment Schemes
- Close sectionSTSM110000: Derivatives: contents
- Close sectionSTSM111000: Introduction
- Close sectionSTSM112000: Introduction to options
- STSM112010: What is an option?
- STSM112020: Premium
- STSM112030: Specified date
- STSM112040: Contract size
- STSM112050: Exercise
- STSM112060: Cash settlement
- STSM112070: Call and put options
- STSM112080: Traded options
- STSM112090: Traditional options
- STSM112100: Over the counter options
- STSM112110: Trading, settlement and delivery of options
- STSM112120: Intermediary relief
- STSM112130: Hedging an option
- Close sectionSTSM113000: Options - stamp implications
- STSM114000: Introduction to warrant - what is a warrant
- Close sectionSTSM115000: Warrants - stamp implications
- Close sectionSTSM116000: Introduction to covered warrants
- Close sectionSTSM117000: Introduction to futures and forwards
- STSM117010: What is a Futures contract
- STSM117020: Issue of a futures contract that provides only for cash settlement
- STSM117030: What is a Forwards contract
- STSM117040: Issue of a forwards contract that provides only for cash settlement
- STSM117050: Fundamental differences between a Futures and a Forwards contract
- STSM117060: Trading of a futures contract
- STSM117070: Futures and forwards - stamp implications
- STSM117080: Issue of a Futures or Forwards contract
- STSM117090: Secondary trading of a Futures contract
- STSM117100: Settlement of a Futures or Forwards contract
- Close sectionSTSM118000: Introduction to Contracts for Difference
- Close sectionSTSM120000: Financial markets: contents
- Close sectionSTSM121000: Background
- Close sectionSTSM122000: Issue and Trading of Shares
- Close sectionSTSM123000: Trading Venues
- STSM123010: What is an exchange?
- STSM123020: Equity exchanges
- STSM123030: Recognised Investment Exchanges
- STSM123040: Regulated Markets
- STSM123050: Multilateral trading facilities (MTFs)
- STSM123060: LSE and AIM
- STSM123070: Derivative and commodity exchanges
- STSM123080: Regulation of UK financial markets
- Close sectionSTSM124000: Types of Financial Brokers & Dealers
- Close sectionSTSM125000: Central Counterparties
- Close sectionSTSM126000: Financial Markets Issues
- Close sectionSTSM130000: CREST
- Close sectionSTSM131000: Introduction
- STSM131010: Background
- STSM131020: Overview of CREST
- STSM131030: Services provided by CREST
- STSM131040: Delivery versus payment (DvP)
- STSM131050: Interface between shareholding in CRST and paper certificates
- STSM131060: CREST members/participants
- STSM131070: Communicating with CREST
- STSM131080: Settling transactions in CREST
- STSM131090: Example - progress of a trade through CREST
- Close sectionSTSM132000: CREST and SDRT
- Close sectionSTSM133000: CREST functionality
- Close sectionSTSM131000: Introduction
- Close sectionSTSM140000: Stamp Duty and Stamp Duty Reserve Tax administration: contents
- Close sectionSTSM141000: Stamp Duty administration
- STSM141010: HMRC Stamp Taxes locations and organisation
- STSM141020: Payment and denoting of stamp duty
- STSM141030: Section 14 SA1891 - duly stamped
- STSM141040: Calculating the duty payable
- STSM141050: Unstamped documents - Stamp Duty Reserve Tax implications
- STSM141060: Documents in languages other than English
- STSM141070: All facts and circumstances to be set out in document
- STSM141080: Stamp Duty time limits
- Close sectionSTSM142000: Stamp Duty Reserve Tax administration
- STSM142010: Introduction
- STSM142020: Residual securities and takeovers
- STSM142030: Documents unstamped at the accountable date
- STSM142040: Section 92 FA86 Repayment or cancellation of tax
- STSM142050: Sub-sales (SDRT)
- STSM142060: Liable and accountable person
- STSM142070: Notice of charge and accountable date
- STSM142080: Error dealing
- STSM142090: Void or unenforceable contracts and cancelled transactions
- STSM142100: Transactions cancelled after settlement in CREST
- STSM142110: Interest and repayments
- STSM142120: Post-payment checks
- STSM142130: Time limits (SDRT)
- STSM142135: Penalties if you miss an SDRT deadline
- STSM142140: SDRT determinations
- Close sectionSTSM141000: Stamp Duty administration
- Close sectionSTSM150000: Compliance
- STSM999999: Glossary
- STSMUPDATE001: update index