STSM053030 - Depositary receipt and clearance services: 1.5 per cent higher rate charge: Stamp Duty Reserve Tax - chargeable securities

For the purposes of a 1.5 per cent Stamp Duty Reserve Tax (SDRT) charge under FA86/S93(4) and FA86/S96(2), the provisions of FA86/S99 (3) define chargeable securities as:

  • stocks, shares or loan capital;
  • interests in, or in dividends or other rights arising out of, stocks, shares or loan capital,
  • rights to allotments of or to subscribe for, or options to acquire, stocks shares or loan capital, and
  • units under a unit trust scheme or shares in an open-ended investment company.

Unlike the principal 0.5 per cent SDRT charge under FA86/S87 that applies when chargeable securities are agreed to be transferred for money or money바카라 사이트™s worth, the 1.5 per cent SDRT charge does not apply to securities that are issued or raised by a non-United Kingdom company that keeps a register of its shares in the United Kingdom (FA86/S99 (10)(a)).

The 1.5 per cent higher rate charge does, however, apply to shares held on an overseas branch register maintained by or on behalf of a United Kingdom company ( FA86/S99 (10)(b)).

See STSM055020 for information on overseas branch registers.