1124. Overview of stamp taxes.

This part of the title covers the three stamp taxes:

  1.  

    (1)     stamp duty1;

  2.  

    (2)     stamp duty reserve tax2; and

  3.  

    (3)     stamp duty land tax3 (in Wales, the land transaction tax4).

Stamp duty is a charge on documents, originated more than 300 years ago which is now only charged on instruments relating to stock or marketable securities5 and instruments transferring interests in partnerships holding stock or marketable securities6.

Stamp duty reserve tax is charged in respect of agreements to transfer certain securities for money or money's worth and in respect of arrangements involving depositary receipts and clearance services