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HMRC internal manual

Stamp Taxes on Shares Manual

Stamp duty and SDRT Administration: SDRT Administration: notice of charge and accountable date

Notice of charge and accountable date - Non-CREST transactions

If the agreement to transfer securities could have been reported to a regulator through CREST then the “accountable date” for the payment of Stamp Duty Reserve Tax (SDRT) and any interest on overdue tax is the 14th day after date of the agreement. Otherwise the “accountable date” is the 7th day of the month following that in which the charge arises (regulation 2 SI 1986/1711). For an SDRT charge on a surrender under FA99/SCH19, the accountable date is the fourteenth day of the month following the month in which the “relevant two week period” ends (see STSM103070).

No formal form of notice has been prescribed under regulation 4. The basic information needed is:

  • the date of the agreement,
  • the names of the parties,
  • the description and number of securities,
  • the consideration paid, and
  • the SDRT payable.

Occasionally (for example on an offer for sale) the seller undertakes to pay the tax, having entered into an agreement with HMRC under regulation 4, but this is a less common practice than it used to be.