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Stamp duty reserve tax relief

On 16th February 2006, a Statutory Instrument came into force to allow recognised intermediaries to be eligible for SDRT relief for UK trades executed on Chi-X.

 

These regulations extend the stamp duty reserve tax exemptions for sales of stock to intermediaries and for repurchase and stock lending. The legislation is outlined here.

 

The SDRT exemption registration steps:

  • Trading Participant completes SDRT relief self certification form and submits it to Chi-X
  • Chi-X registers the application with HM Treasury
  • HM Treasury confirms whether the applicant has been approved for stamp duty relief
  • Chi-X adds the Trading Participant and links it to the TSO of N via Crest

Useful links:

 

Chi-X Self Certification

 

HM Treasury