STSM133050 - CREST: CREST Functionality: Transaction Stamp Status (TSS) values
The Transaction Stamp Status (TSS) is a code or ‘flag’ defining the SDRT accountability for a participant in a transaction. The flags are also used to claim certain exemptions and reliefs from SDRT and so prevent CREST from charging SDRT on those transactions. Each flag consists of a single capital letter or a number. Examples of TSS flags, together with their descriptions, are listed below:
O |
No SDRT liability, transfer to/from nominee with no change of beneficial owner or transfer between nominees of the same beneficial owner |
P |
0.5% ad valorem SDRT (this is the default code) |
R |
1.5% ad valorem SDRT |
S |
No SDRT liability, transfer to exempt charity |
T |
No SDRT liability, SDRT paid inside CREST on another CREST transaction |
U |
No SDRT liability, SDRT paid outside CREST on an instrument (including form SH03 used for a share buyback); or SDRT paid (or to be paid) outside CREST on corporate action |
V |
No SDRT liability, NCBO-NCLO (no change in legal or beneficial owner) including pure de- or re-materialisation |
W |
No SDRT liability, issues of shares to a Clearance Service or Depositary Receipt Issuer |
3 |
No SDRT liability, intra-group transfer, a letter of direction having been adjudicated as exempt by HMRC |
4 |
No SDRT liability, stock loan or repo, stock loan return or repo return or transfer of DBV (Delivery by Value) collateral relating to loans to market makers |
5 |
No SDRT liability, letter of direction having been executed (including pension scheme mergers, purchase of life insurance policies and transfers by way of security for loans) |
6 |
No SDRT liability, authorised unit trust merger or authorised unit trust/OEIC conversion/amalgamation |
7 |
No SDRT liability, UK security held on an overseas branch register |
|
9 |
No SDRT liability, PISCES trade |