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HMRC internal manual

Stamp Taxes on Shares Manual

HM Revenue & Customs
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CREST: CREST & SDRT: centrally generated tax status

There are circumstances when the tax status of an account can be pre-set in CREST. In such circumstances CREST will automatically apply the pre-set tax status when settling a transaction: this will override any transaction status flag input by participants when they enter details of the transaction into CREST.

Some of the most common ones are:

“A” 0.5% SDRT due (this is the default code, where SDRT is due at the standard rate).
“C” 1.5% SDRT due for transfers into Depositary Receipt Issuer Schemes and Clearance Services).
“Z” Exempt from SDRT (commonly used for transfers to accounts designated for charity members).