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HMRC internal manual

Stamp Taxes on Shares Manual

Collectives: Transfer of units in a unit trust or units issued as consideration

Transfer on sale of a unit in a unit trust or share in an Open-Ended Investment Company (OEIC)

With effect from 6 February 2000, no stamp duty is chargeable on a transfer or other instrument relating to a unit in a unit trust or a share in an OEIC by virtue of FA99/SCH19/PARA 1(1).

Transfer on sale of property other than units in a unit trust or shares in an OEIC

An ad valorem stamp duty charge can arise, however, on the transfer on sale of property other than units in a unit trust or shares in an OEIC, where the whole or part of the consideration payable for the transfer of the property comprises units in a unit trust or shares in an OEIC. This is because ‘units’ and OEIC shares are regarded as chargeable consideration being ‘stock’ for the purposes of stamp duty (SA1891/S55 and FA99/SCH19/PARA19).

See STSM101020 for the meaning of a unit trust.

See STSM101050 for the meaning of an open-ended investment company.