1183. Overview of stamp duty reserve tax.

Stamp duty reserve tax1 is charged in respect of agreements to transfer2 certain securities3 for money or money's worth, and charges are rounded to the nearest penny, with halfpennies rounded up4. Stamp duty reserve tax is chargeable whether the agreement, transfer, issue or appropriation in question is made or effected in the United Kingdom5 or elsewhere, and whether or not any party is resident or situate in any part of the United Kingdom6.

The principal charge in respect of agreements is imposed at the rate of 0.5 per cent of the amount or value of the consideration7. A higher rate