How to pay your Stamp Duty Reserve Tax (SDRT) and the time it takes for payment to reach HM Revenue and Customs (HMRC).
SDRT is paid on the paperless purchase of shares.
It should not be confused with paying either:
- Stamp Duty on shares bought on a stock transfer form
- Stamp Duty Land Tax when property is bought or transferred
The 2 types of SDRT payment are stocks and shares made:
- through the ‘CREST’ system (a computerised register of shares and shareowners)
- outside of CREST (‘off-market’ payments)
The payment deadlines, payment reference numbers and HMRC bank account details are different in each case.
Stocks and shares CREST payments
CREST automatically deducts SDRT from chargeable trades and pays over the tax to HMRC. No manual payment or notice is required.
Stocks and shares payments outside of CREST (‘off-market’ payments)
If you make a trade outside of CREST you have to send HMRC a written notice that includes:
- the buyer and seller details
- what and how many securities have been transferred
- any relief and/or exemption claimed
- details of the payment or other exchange (including monetary value) made
- a reference number - chosen by you - so HMRC can identify the payment
If the payment could have been made through CREST but was not, the deadline for both the payment and the notice is 14 days from the date of the trade.
If the payment couldn’t have been made through CREST, the deadline for both the payment and the notice is the 7th of the month after the calendar month in which the the agreement took place.
You should allow 3 working days for your notice to reach HMRC.
How much time to allow
Make sure you pay HMRC by the deadline or you may have to pay a penalty and/or interest.
The time you need to allow depends on how you pay.
|Payment method||Time allowance|
|Online or telephone banking (Faster Payments)||Same or next day|
|CHAPS||Same or next day|
|Bacs||3 working days|
|By cheque through the post||3 working days|
If the deadline falls on a weekend or bank holiday, make sure your payment reaches HMRC on the last working day before (unless you’re paying by Faster Payments).
Ways to pay
You can pay by Faster Payments, CHAPS or Bacs to HMRC’s account.
Bank details for online or telephone banking, CHAPS, Bacs
|Sort code||Account number||Account name|
|08 32 10||12237210||HMRC Stamp Office Shares Unit|
You’ll need the reference number you provided on your off-market payment notice.
Your payment may be delayed if you use the wrong reference number.
- Faster Payments (online or telephone banking) usually reach HMRC on the same or next day, including weekends and bank holidays
- CHAPS usually reach HMRC the same working day if you pay within your bank’s processing times
- Bacs usually take 3 working days
You should use these details to pay from an overseas account.
|Account number (IBAN)||Bank identifier code (BIC)||Account name|
|GB89 BARC 2011 4733 7025 96||BARCGB22||HMRC SDRT|
If you need to provide your bank with HMRC’s banking address it is:
Barclays Bank Plc
1 Churchill Place
By cheque through the post
Make your cheque payable to ‘HM Revenue & Customs only’ followed by the reference number you provided on your off-market payment notice.
You should allow 3 working days for your payment to reach HMRC and send the cheque with your off-market payment notice.
Don’t fold the cheque or fasten it to other papers.
If you’re paying by post, you can include a letter with your payment to request a receipt from HMRC.