Updates: Stamp Taxes on Shares Manual
2024
Financial markets: trading venues: regulated market
Details of UK regulated markets updated to reflect removal of IPSX from the FCA list.
Financial markets: trading venues: recognised investment exchange
Page updated to reflect removal of IPSX UK Limited from FCA list of RIEs.
Description of capital-raising arrangements expanded.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Redrafted to reflect 1 January 2024 changes to domestic legislation on the 1.5% charge.
Content redrafted to include details on 2015 and 2024 changes, the latter of which removed the charge on issue of bearers from domestic legislation.
Redrafted to reflect 1 January 2024 changes to domestic legislation on the 1.5% charge.
Exemptions and reliefs: exemptions: contents
New page STSM041285 added to index.
Updated to reflect 1 January 2024 changes to growth market exemption.
Updated to reflect 1 January 2024 changes to growth market exemption.
Updated to reflect 1 January 2024 changes to growth market exemption.
Updated to reflect 1 January 2024 changes to growth market exemption.
Updated to reflect 1 January 2024 changes to the growth market exemption.
Updated to reflect 1 January 2024 changes to the growth market exemption.
Exemptions and reliefs: exemptions: sales of Bearer securities - general
Updated to reflect 1 January 2024 changes to domestic legislation on the 1.5% charge.
Updated to reflect 1 January 2024 changes to domestic legislation on the 1.5% charge.
Exemptions and reliefs: exemptions: loan capital exemption (Stamp Duty) - general
Updated to reflect 1 January 2024 changes to domestic legislation on 1.5% charge.
Updated to reflect 1 January 2024 changes to domestic legislation on 1.5% charge.
Depositary receipt and clearance services: 1.5 per cent higher rate charge: contents
New pages STSM053080, STSM053090, STSM053100, STSM053110 and STSM053120 added to index.
Depositary receipt and clearance services: depositary receipt: background
Updated to reflect modern market practice around depositary receipts.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to the 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to the 1.5% charge in domestic legislation.
Depositary receipt and clearance services: exemptions/reliefs: takeovers (share-for-share exchanges)
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Depositary receipt and clearance services: exemptions/ reliefs: replacement securities
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Depositary receipt and clearance services: exemptions/ reliefs: Hybrid Capital Instruments
Updated to reflect the 1 January 2024 changes to the 1.5% charge in domestic legislation.
Updated to reflect the 1 January 2024 changes to the 1.5% charge in domestic legislation.
Updated to reflect the 1 January 2024 changes to the 1.5% charge in domestic legislation.
Depositary receipt and clearance services: exemptions/ reliefs: unsecured loan capital
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Bearer instruments: introduction: contents
New pages STSM061050 and STSM061060 added to index.
New pages STSM061050 and STSM061060 added to index.
Companies and shareholders: company’s purchase of own shares: Treasury shares
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
Updated to reflect 1 January 2024 changes to 1.5% charge in domestic legislation.
2022
Scope of stamp duty on shares: Stamp Duty - basics of a charge: contents
STSM021247 added to index.
Exemptions and reliefs: exemptions: contents
STSM041067 added to index.
Scope of stamp duty on shares: stamp duty: basics of a charge: company purchasing its own shares
QAHC information added.
Information about QAHC added.
Existing content removed as duplication with previous page STSM142020 which covered SDRT concession. Replaced with new content on reliefs which require an instrument.
Stamp duty and SDRT Administration: SDRT Administration: notice of charge and accountable date
Extra information added on off-market notifications. Information on withdrawn Sch.19 charge on surrenders removed.
Stamp duty and SDRT Administration: SDRT Administration: error dealing
Rewritten to simplify language.
Stamp duty and SDRT administration: SDRT administration: SDRT Information Powers
Previous time limit content removed as largely duplicated with STSM142070. Replaced with new content on information powers.
Stamp Duty and SDRT Administration: Stamp Duty Administration: HMRC Stamp Taxes
Updated to remove out of date content.
Stamp Duty and SDRT Administration: Stamp Duty Administration: payment and denoting of Stamp Duty
Updates to reflect end of physical stamping.
2021
Exemptions and reliefs: exemptions: charities - Stamp Duty exemption
Updates to reflect changes to definition of charity in Sch6 FA2010.
Scope of Stamp Duty Reserve Tax (SDRT): relationship with stamp duty
Updated to reflect name change of Euroclear UK & Ireland to Euroclear UK & International on 01 September 2021.
Removed otiose reference to the National Endowment for Science, Technology and the Arts (not relevant since 1 April 2012). Added definition of charity per Sch6 FA2010. Formatting/layout changes.
Exemptions and reliefs: reliefs: stamp duty group relief - 'arrangement'
Drafting updates and updates to hyperlinks. Text added re relationship between group relief and s75 FA1986 relief.
Exemptions and reliefs: reliefs: stamp duty group relief - making a claim
Reformatted, removed reference to short form claim letter, updated links to gov.uk guidance, updates to reflect new Stamp Duty processes.
Scope of stamp duty on shares: stamp duty: basics of a charge: dividend in specie
Republished due to gov.uk formatting issues
2020
Consequential updates to definitions due to the end of the transition period on 31 December 2020.
Consequential updates due to the end of the transition period on 31 December 2020.
Introduction to Collective Investment Schemes: Exchange Traded Fund - Overview
Consequential changes due to end of the transition period on 31 December 2020.
Financial markets: trading venues: regulated market
Consequential updates due to the end of the transition period on 31 December 2020.
Financial markets: trading venues: Multilateral Trading Facility (MTFs)
Consequential updates due to the end of the transition period on 31 December 2020.
EU Exit information added.
EU Exit information added.
EU Exit Information Added
EU Exit information added.
EU Exit information added
EU Exit information added
EU Exit information added
EU Exit information added
EU Exit information added.
EU Exit information added.
EU Exit information added
Depositary receipt and clearance services: exemptions/ reliefs: unsecured loan capital
EU Exit information added
Depositary receipt and clearance services: exemptions/ reliefs: Hybrid Capital Instruments
EU Exit information added
Depositary receipt and clearance services: exemptions/ reliefs: replacement securities
EU Exit information added.
EU Exit information added.
Depositary receipt and clearance services: exemptions/reliefs: takeovers (share-for-share exchanges)
EU Exit information added.
Exemptions and reliefs: reliefs: stamp duty group relief - foreign companies
List updated to add entities regarded as body corporate for the purposes of Stamp Duty group relief.
Scope of stamp duty on shares: Stamp Duty - basics of a charge: contents
New content (transfer of unlisted securities to connected companies) added following FA2020.
Scope of stamp duty on shares: stamp duty: basics of a charge: dividend in specie
Page updated following FA2020.
Page updated following FA2020.
Scope of Stamp Duty Reserve Tax (SDRT): contents
New content (transfers of unlisted securities to connected companies) added following FA2020
Page updated following FA2020.
Exemptions and reliefs: reliefs: contents
STSM042560 added to index.
STSM042550 added to index
STSM042540 added to index.
STSM042530 added to index.
STSM042485 added to index.
STSM042475 added to index.
Exemptions and reliefs: reliefs: Section 77A -Disqualifying arrangements
Updated to include changes introduced by FA2020 on 22 July 2020.
Exemptions and reliefs: reliefs: Section 77A – Arrangements that are not disqualifying arrangements
Example transaction moved to STSM042475
Exemptions and reliefs: reliefs: Section 77A – Capital Reduction Demergers
Amended to reference FA2020 changes to s.77A and add links to examples.
Scope of stamp duty on shares: stamp duty: basics of a charge: block transfers
Amended guidance to clarify block transfer process and calculation method.
2019
Links to STSM155010 to STSM155270 archived
Compliance: SDRT compliance: overview of compliance work
Page archived
Compliance: SDRT compliance: definition of compliance risk
Page archived
Compliance: SDRT compliance: compliance risks - caseworker’s objectives
Page archived
Compliance: SDRT compliance: main SDRT risk areas
Page archived
Compliance: SDRT compliance: information sources
Page archived
Compliance: SDRT compliance: off-market risk
Page archived
Compliance: SDRT compliance: industry change
Page archived
Compliance: SDRT compliance: SDRT repayments
Page archived
Compliance: SDRT compliance: collective investment schemes
Page archived
Compliance: SDRT compliance: cross tax risk
Page archived
Compliance: SDRT compliance: Stamp Duty risks
Page archived
Compliance: SDRT compliance: compliance checks overview
Page archived
Compliance: SDRT compliance: what is a compliance check
Page archived
Compliance: SDRT compliance: before you open a compliance check
Page archived
Compliance: SDRT compliance: opening a compliance check
Page archived
Compliance: SDRT compliance: issuing customer fact sheets
Page archived
Compliance: SDRT compliance: working a compliance check - information powers
Page archived
Compliance: SDRT compliance: information from share dealers
Page archived
Compliance: SDRT compliance: reviewing information
Page archived
Compliance: SDRT compliance: interrogating electronic data
Page archived
Compliance: SDRT compliance: concluding the enquiry
Page archived
Compliance: SDRT compliance: if you find something wrong
Page archived
Compliance: SDRT compliance: payment on account
Page archived
Compliance: SDRT compliance: concluding a compliance check - duties, interest and penalties
Page archived
Compliance: SDRT compliance: settlement
Page archived
Compliance: SDRT compliance: customer application for closure
Page archived
Compliance: SDRT compliance: appeals
Page archived
Compliance: introduction - Stamp Duty - Stamp Act 1891 s14(4)
Page previously deleted incorrectly. Contents now restored
Archiving reason text added
Compliance: introduction: stamp duty - background
Previous changes incorrectly deleted the contents of the page. Details now restored
Archiving reason text added
Compliance: SDRT compliance: information sources
New link added
Compliance: SDRT compliance: compliance checks overview
Page deleted as no contents added
Compliance: SDRT compliance: what is a compliance check
Page deleted as no contents added.
Compliance: SDRT compliance: before you open a compliance check
Page deleted as no contents added
Compliance: SDRT compliance: opening a compliance check
Page deleted as no contents added.
Scope of stamp duty on shares: Stamp Duty - basics of a charge: contents
Added STSM021245A to index.
STSM021245 added to index.
Exemptions and reliefs: exemptions: contents
Added STSM041065 to index.
Financial markets: trading venues: regulated market
Updated to reflect current list of UK regulated markets.
Derivatives: options - stamp implications: issue or grant of an Option
Guidance clarifed to make it clearer that the property over which the option is granted needs to be a stock or marketable security, and section added re options dated prior to 1 Dec 2003.
Derivatives: warrants - stamp implications: issue or grant of a warrant
Guidance clarifed to make it clearer that the property over which the warrant is granted needs to be a stock or marketable security.
Addition of AIM Italia Market.
Derivatives: warrants - stamp implications: issue or grant of a warrant
Stamp Duty section revised.
Companies and shareholders: company takeovers: Stamp Duty on block transfer
Updated to give link to STSM021190 and how block transfers including transfers on sale <£1000 should be treated.
Exemptions and reliefs: reliefs: contents
STSM042105 added to index.
Exemptions and reliefs: reliefs: Intermediary Relief - shares regularly traded
Text updated, including removing reference to obselete newsletter.
Text amended to make clear that this section relates to applications for recognition made to markets/exchanges, rather than direct to HMRC.
Exemptions and reliefs: reliefs: contents
STSM042075 added to index.
Exemptions and reliefs: reliefs: Intermediary Relief - recognition of intermediary
Updated to reference new guidance page containing key information which should be included in a HMRC direct approved intermediary application
Added STSM011045 page to section contents.
Exemptions and reliefs: exemptions: contents
added STSM041550
STSM041540 added
STSM041530 added
Adding STSM041520
adding STSM041510
adding page STSM041500
Derivatives: options - stamp implications: issue or grant of an Option
Changes made to Stamp Duty section on issue of options, to correct errors.
Derivatives: introduction to futures and forwards: issue of a futures or forwards contract
Change made to Stamp Duty sub-section
Derivatives: introduction to Contracts for Difference: what is a Contract for Difference
Re-word the final paragraph
Added First North Market of the Nasdaq Riga Stock Exchange
Derivatives: introduction to futures and forwards: settlement of a futures or forwards contract
Reworded part of this page
Derivatives: warrants - stamp implications: exercise of a warrant
Added the paragraph referring to higher 1.5% SDRT charge
Derivatives: introduction to covered warrants: what is a covered warrant?
Changes to wording throughout this page
Derivatives: introduction to covered warrants: issue or grant of a covered Warrant
Formatting changes - changed final sentance
Derivatives: introduction to covered warrants: exercise of a covered warrant
New information re Stamp Duty and SDRT 1.5% charge
Derivatives: options - stamp implications: exercise of an Option
Major re-wording of this reference
Changing compounded annual growth formula from picture to link as per https://intranet.prod.dop.corp.hmrc.gov.uk/manual/cms-manuals-guide/cmsmg06210
Tables turned into bulleted lists due to display issues on the internet.
Exemptions and Reliefs: reliefs: suggested S75 claim letter
Letter moved from word document link to main body of guidance page.
2018
The word 'contents' removed from the title
hyperlinks added. repeated section removed.
Scope of Stamp Duty Reserve Tax (SDRT): rates of tax
Re-write and format changes made to this page
Scope of Stamp Duty Reserve Tax (SDRT): territorial scope
Complete re-write of the page
Scope of Stamp Duty Reserve Tax (SDRT): the principal charge
Complete re-write of this page
Scope of Stamp Duty Reserve Tax (SDRT): agreement to transfer
Re-write of this page
Scope of Stamp Duty Reserve Tax (SDRT): calculation of the tax
re-write of page
Scope of Stamp Duty Reserve Tax (SDRT): unit trusts
Page re-write
Scope of Stamp Duty Reserve Tax (SDRT): chargeable securities - stocks, shares and loan capital
Page re-write
Scope of Stamp Duty Reserve Tax (SDRT): reliefs and exemptions
Page re-write
Scope of Stamp Duty Reserve Tax (SDRT): interaction with stamp duty and exemptions
Page re-write
added hyperlinks
added hyperlinks
Exemptions and reliefs: reliefs: company reconstructions and acquisitions - general
Additional information on relief.
Updated wording to add relevant detail and reference
Updated text in respect of relief
Collectives: Transfer of units in a unit trust or units issued as consideration
Page archived in error
Collectives: the Schedule 19 charge: scope of Stamp Duty Reserve Tax (SDRT)
Hyperlink added
Changes made to the paragraphs in both the Investments in Depositary Interests and Investment in non-UK incorporated companies with a UK register. Final sentence of page added.
Collectives: Third party matters: Exemptions - Third party transfers on or after 30 March 2014
Formatting changes made
Financial markets: types of financial brokers and dealers: principal broker dealers
Details of Implications of MiFID II added
Scope of stamp duty on shares: Stamp Duty - basics of a charge: contents
new pagesSTSM021305 to 21340
Scope of Stamp Duty Reserve Tax (SDRT): contents
STSM031250 ref added
STSM031240 ref added
STSM031230 ref added
STSM031220 ref added
added STSM031210 reference
added new page reference
Companies and shareholders: introduction: contents
added new page to contents
Companies and shareholders: introduction: Transfers of listed securities and connected persons
amended title
Contents page removed. New page created
Page archived - revised information now sits under STSM011090
Page archived - revised information now sits under STSM011090
Para 3 changed.
Companies and shareholders: introduction: contents
New page STSM071200
Exemptions and Reliefs: Reliefs: exemption for Share Incentive Plans
Page archived - in wrong place of the manual - now at STSM141400
Introduction to Collective Investment Schemes: Contents
Changed order of contents
Re-arranged the links
Introduction to Collective Investment Schemes: Contents
Added new section into this contents page
Introduction to collective Investments Schemes: Authorised Contractual Scheme: Contents
Links added to the pages within this section
Added new content line
Introduction to Collective Investment Schemes: Contents
Added new contents page
Introduction to collective Investments Schemes: Authorised Contractual Scheme: Contents
Added three titles to the contents page
Introduction to Collective Investment Schemes: Contents
Added new entry
Scope of Stamp Duty Reserve Tax (SDRT): chargeable securities - general
Page re-write
Page re-write
Scope of Stamp Duty Reserve Tax (SDRT): chargeable securities - units under a unit trust scheme
Page re-write
Scope of Stamp Duty Reserve Tax (SDRT): instalment arrangements
Partial page re-write
Scope of Stamp Duty Reserve Tax (SDRT): relationship with stamp duty
Page re-write
New contents page added - Authorised Contractual Schemes
Introduction to Collective Investment Schemes: Contents
Contents page incorrectly added, now deleted
Added new contents page for Autthorised Contractual Schemes
Introduction to Collective Investment Schemes: Authorised Investments Funds - General
Added new paragraph relating to CAIFs, plus small formatting changes
Introduction to Collective Investment Schemes: Exchange Traded Fund - Overview
Added a paragraph relating to ETF and formatting changes
Collectives: the Schedule 19 charge: contents
STSM103005 added to menu
Collectives: Exemptions: contents
STSM105105 added to menu
Collectives: Third party matters: contents
STSM106035 added to menu
Collectives: Exemptions: contents
Replaced new entry
New entry for 105105
Collectives: Third party matters: contents
New entry for STSM106035
Collectives: the Schedule 19 charge: contents
Details of new page added to index
Details of new page added to index
Collectives: Exemptions: In specie redemptions on or after 30 March 2014
Page created
Collectives: the Schedule 19 charge: contents
New entry made for new page at 103005
STSM103000 adding manual to content
STSM103000
Collectives: the Schedule 19 charge: contents
Collectives: the Schedule 19 charge: Stamp Duty Reserve Tax charge
Stamp Taxes on Shares Manual (81383)
Stamp Taxes on Shares Manual (81383)
Collectives: the Schedule 19 charge: rate of Stamp Duty Reserve Tax
Stamp Taxes on Shares Manual (81383)
Stamp Taxes on Shares Manual (81383)
Collectives: The Schedule 19 charge: Accountable date
Stamp Taxes on Shares Manual (81383)
Stamp Taxes on Shares Manual (81383)
Collectives: The Schedule 19 charge: Relevant two-week period
Stamp Taxes on Shares Manual (81383)
Stamp Taxes on Shares Manual (81383)
Collectives: the Schedule 19 charge: scope of Stamp Duty Reserve Tax (SDRT)
Stamp Taxes on Shares Manual (81383)
Stamp Taxes on Shares Manual (81383)
Collectives: the Schedule 19 charge: Stamp Duty Reserve Tax charge
Added final sentence and some formatting changes
Collectives: the Schedule 19 charge: rate of Stamp Duty Reserve Tax
Added last sentence and some formatting changes
Collectives: The Schedule 19 charge: Accountable date
Final sentence added and some formatting changes made
Collectives: The Schedule 19 charge: Relevant two-week period
Final sentence added and some formatting changes made
Collectives: the Schedule 19 charge: scope of Stamp Duty Reserve Tax (SDRT)
Final sentence added and some formatting changes made
Amended the wording throughout the page
Collectives: the Schedule 19 charge: contents
Titles amended to reflect the correct information
Update contents page
Update contents page
STSM103000 title changed
Introduction to Collective Investment Schemes: Contents
Contents line added
New entry added to contents page
Updated instructions added
Introduction to Collective Investment Schemes: Contents
Added Contents for new page
Introduction to Collective Investment Schemes: Contents
Added details of new page at STSM101065
Financial markets: background: Markets in Financial Instruments Directive II (MiFID II)
Re-write of contents
CREST: CREST Functionality: agent indicators
Added additional information
Scope of stamp duty on shares: stamp duty: basics of a charge: company purchasing its own shares
Re-wording section to include references to SH03 and Companies Act 2006
Exemptions and Reliefs: reliefs: suggested S77 claim letter
Draft letter to be shown on page rather than as a hyperlink attachment
Exemptions and Reliefs: reliefs: checklist for S75 and S77 claims
The checklist included on the page, rather than as a hyperlink
2017
Exemptions and reliefs: reliefs: contents
New sections added to contents page.
Updated text with reference to further information on changes of control.
Exemptions and Reliefs: reliefs: suggested S77 claim letter
Updated letter following introduction of s77A
Exemptions and Reliefs: reliefs: checklist for S75 and S77 claims
Checklist updated following introduction of s77A