Stamp duty reserve tax

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following the call for evidence in 2020, the resulting outcome published in 2021, consideration by the relevant HMRC and industry working group and the 2023 consultation, the government confirmed in the consultation outcome published on 28 April 2025 that, in 2027, it intends to replace stamp duty and SDRT with a single self-assessed stamp tax on securities, generally in accordance with the proposals outlined in the 2023 consultation document. Additionally, the government is consulting on modernising and clarifying the legislation imposing the higher rate 1.5% stamp tax charge. For more information, see News Analysis articles: Tax update spring 2025—Stamp taxes on shares modernisation, Tax update spring 2025—Tax analysis—Stamp and transfer taxes, TAMD 2023—Stamp taxes on shares modernisation, TAMD 2023—consultation—stamp taxes on shares and Tax Administration and Maintenance Day—27 April 2023—Stamp and transfer taxes.

Subject to exemptions and reliefs, stamp duty reserve tax (SDRT) applies to:

•
agreements (whether oral or written) to transfer chargeable securities for consideration in money or money's worth (including deemed consideration in accordance with the

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