STSM042640 | Exemptions and reliefs: reliefs: UK Listing Relief - Claiming the relief

Claiming the relief

Where a company is within a listing relief period the relevant person (e.g. registrar or issuer) should notify the operator of CREST that the securities being admitted into the CREST system qualify for UK listing relief.

Where the operator of CREST is notified accordingly, those securities will be set as exempt in CREST meaning all transfers of those securities in CREST will not be charged SDRT.

Where the first listing of a company’s shares (or depositary interests) has started a UK listing relief period, if the company has other classes of securities held in CREST which are not marked as exempt, the company or their representative should notify CREST so that those other securities can be marked as exempt for the duration of the listing relief period to ensure no 0.5% SDRT charge arises.

Other exemptions and reliefs which may apply

A company may issue various types of securities within a UK listing relief period. Although securities may qualify under UK listing relief, the securities may also qualify for another exemption (e.g. loan capital exemption, see STSM041050) from SDRT in the normal way.

Further information on other exemptions and reliefs can be found at STSM040000.