STSM042650 - Exemptions and reliefs: reliefs: UK Listing Relief - How to pay SDRT when listing relief does not apply

Where there is a transfer of chargeable securities of a company which is within a UK listing relief period, but the transfer of the securities does not qualify for the relief, either because:

  • the agreement to transfer forms part of arrangements changing control in the company (see STSM042610), or
  • a 1.5% charge applies (see STSM042630)

the accountable person will need to notify and pay the SDRT due on that transfer directly to HMRC outside of CREST.

This is because an SDRT charge will not be applied by the CREST system where the security has been marked as exempt due to the UK listing relief.

Further details on how to manually notify and pay SDRT directly to HMRC can be found on GOV.UK , in particular in the section titled “stocks and shares payments outside of CREST”. When making a written notification to HMRC, if the transfer took place in CREST, the CREST transaction ID should be included in the written notification.