Scope of Stamp Duty Reserve Tax (SDRT): chargeable securities - units under a unit trust scheme
Units under a unit trust scheme are ‘chargeable securities’, except where:
- all trustees are resident outside the UK and the unit is not UK registered, or
- the trust property can only be invested in exempt investments as defined at FA86/S99 (5B) - see STSM105020.
Unit holders may sell their rights and interests in the trust . When transferred for consideration or surrendered to the fund manager, a charge to SDRT can arise.
Unit Trusts are considered in greater detail at STSM100000.