Stamp Taxes on Shares Manual

STSM041600 - Exemptions and reliefs: exemptions: PISCES – How to claim the exemption

SDRT and CREST

PISCES shares can be settled electronically through the CREST system. Further information on claiming the exemption in CREST will be provided before the first PISCES trading event.

Stamp Duty

Where a transfer falling within the exemption is effected using an instrument of transfer (for example a stock transfer form (STF)), there is no requirement for the instrument to be presented to HMRC, or for the instrument to be adjudicated as not chargeable. If using an STF, Certificate 2 may be completed.