How to pay your Stamp Duty Reserve Tax and the time it takes for payment to reach HMRC.
Changes due to coronavirus (COVID-19) measures
Due to measures put in place to stop the spread of coronavirus HMRC has temporarily changed the way they deal with Stamp Duty Reserve Tax.
You must pay Stamp Duty Reserve Tax electronically using Faster Payment, Bacs or CHAPS.
This guidance will be updated when the measures end.
Stamp Duty Reserve Tax (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
If you make a trade outside of CREST, ‘off-market’ payments, 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 or exemption, or both, 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 or interest, or both.
The time you need to allow depends on how you pay:
- Online or telephone banking (Faster Payments) same or next day
- CHAPS same or next day
- Bacs 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
Due to the temporary measures put in place to stop the spread of coronavirus, you must pay your Stamp Duty Reserve Tax electronically by Faster Payment, Bacs or CHAPS.
You can pay by Faster Payments, CHAPS or Bacs to HMRC’s account.
Bank details for online or telephone banking, CHAPS, Bacs
You should use these details to pay from an UK account:
- sort code - 20 11 47
- account number - 33702596
- account name - HMRC SDRT
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.
You should use these details to pay from an overseas account:
- account number (IBAN) - GB89 BARC 2011 4733 7025 96
- bank identifier code (BIC) - BARCGB22
- account name - HMRC SDRT
If you need to provide your bank with HMRC’s banking address it is:
Barclays Bank Plc
1 Churchill Place