STSM041600 - Exemptions and reliefs: exemptions: PISCES – How to claim the exemption
SDRT and CREST
PISCES shares can be settled electronically through the CREST system.
Where a transfer falling within the exemption is settled in CREST, the exemption can be claimed by inputting TSS Flag 9 - 'no SDRT liability, PISCES trade’.
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.