Scope of stamp duty on shares: stamp duty: basics of a charge: what are stock and marketable securities?
Both these terms are defined by Section 122 of the Stamp Act 1891.
Stock is the capital or fund that a corporation raises through the sale of shares entitling the stockholder to dividends and to other rights of ownership, such as voting rights.
Stock includes units in certain unit trust schemes. But dealings in these units now fall within the Stamp Duty Reserve Tax regime. See STSM031130.
A ‘marketable security’ is a security of such a description as to be capable of being sold in any stock market in the U.K. This includes all classes and types of shares and loan stock, although Government Stocks and certain types of loan stock are exempt from charge. See STSM041040 and STSM041050.