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HMRC internal manual

Stamp Taxes on Shares Manual

HM Revenue & Customs
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Exemptions and reliefs: reliefs: Intermediary Relief - shares regularly traded only on an MTF

Where shares are acquired that are regularly traded only on a multilateral trading facility (or MTF), recognised foreign exchange or recognised foreign options exchange (i.e. the shares are not regularly traded on a regulated market), the transaction will be eligible for relief only if the transaction is effected on and reported to such an MTF/exchange.

There is no such requirement to report a transaction to a regulated market provided the securities are regularly traded on a regulated market.

See Stamp Taxes newsletter ‘Intermediary and Stock Lending Reliefs - FA 2007’ for further clarification.