Collectives: the Schedule 19 charge: overview of FA99/SCH19
Section 122 and Schedule 19 of the Finance Act 1999 introduced, with effect from 6 February 2000, a Stamp Duty Reserve Tax (SDRT) charging regime for surrenders and other transfers of units in unit trusts. Corresponding changes were made to the SDRT regime for transactions in shares in open-ended investment companies by virtue of SI 1997/1156 (as amended).
The regime as, with other SDRT charges, is administered by Stamp Taxes, Birmingham.
See STSM101020 for the meaning of a unit trust.
See STSM101050 for the meaning of an open-ended investment company.