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HMRC internal manual

Stamp Taxes on Shares Manual

HM Revenue & Customs
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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 allege statutory exemptions from SDRT thus ensuring that CREST does not charge those transactions to tax. Each flag consists of a single capital letter or a number. The most common ones, 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 a physical document (including form 169); 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, issuing house exemption on new issue or issues of new shares to a European Union Clearance Service or European Union Depositary Receipt Issuer Service
3 No SDRT liability, intra-group transfer, a letter of direction having been adjudicated as exempt by the Stamp Office
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, stamp liable outside UK