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HMRC internal manual

Stamp Taxes on Shares Manual

Collectives: the Schedule 19 charge: rate of Stamp Duty Reserve Tax

The provisions of paragraph 3(1) of FA99/SCH19 impose a charge to Stamp Duty Reserve Tax (SDRT) at the rate of 0.5 per cent, calculated by reference to the market value of the unit or open-ended investment company share that is surrendered to the manager/Authorised Corporate Director of the fund scheme.

Where the calculation of any SDRT due payable results in an amount which is not a multiple of one penny, the amount so calculated has to be rounded to the nearest penny, taking any half penny or more as nearest to the next whole penny above ( FA86/S99(13) ).

See STSM101020 for the meaning of a unit trust.

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

See STSM031090 for the meaning of a chargeable security.

See STSM101040 for the meaning of market value.