Pay Stamp Duty Reserve Tax
How to pay your Stamp Duty Reserve Tax, and how long it takes for your payment to reach HMRC.
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.
What you need to do
Stocks and shares CREST payments
CREST automatically deducts SDRT from chargeable trades and pays 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 contact Stamp Duty Reserve Tax enquiries by sending 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
Where multiple transactions have taken place in a reporting period, you have to provide details of each individual transaction.
You should allow 3 working days for your notice to reach HMRC.
When to pay
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 could not have been made through CREST, the deadline for both the payment and the notice is the 7th day of the month after the calendar month in which the agreement took place.
If the deadline is on a weekend or bank holiday, make sure your payment reaches HMRC by the end of the previous working day.
If you do not pay by the deadline, you may need to pay a penalty or interest, or both.
What you need
You need the reference number you provided on your off-market payment notice.
If you use the wrong reference number your payment may be delayed or used to pay a different tax bill that you owe. If your payment has paid the wrong tax bill, you can contact Stamp Duty Reserve Tax enquiries to ask for your payment to be moved.
Pay by bank transfer
If you pay by CHAPS (Clearing House Automated Payment System) or Faster Payments, you can submit your payment on the same or next day.
If you pay by Bacs (Bankers Automated Clearing System), allow 3 working days for the payment to reach HMRC.
We recommend you check your bank’s processing times and maximum transaction limits before you pay.
Account details to use if your account is in the UK
Use the following details to make a payment if your account is in the UK:
- sort code — 08 32 10
- account number — 12237210
- account name — HMRC Stamp Office Shares Unit
Account details to use if your account is overseas
Use the following details to make a payment if your account is overseas:
- account number (IBAN) — GB89 BARC 2011 4733 7025 96
- Business Identifier Code (BIC) — BARCGB22
- account name — HMRC SDRT
You must make all payments in pound sterling (GBP). Your bank may charge you if you use any other currency.
If needed, you can provide your bank with the following HMRC banking address:
Barclays Bank plc
1 Churchill Place
London
United Kingdom
E14 5HP
Do not post a cheque payment to us. If you cannot pay electronically you should contact us.