STSM053090 | Depositary receipt and clearance services: 1.5 per cent higher rate charge: removal of the charge on issues

With effect from 1 January 2024 the 1.5% SDRT charge on issues of chargeable securities to depositary receipt issuers (section 93 FA1986) and clearance services (section 96 FA1986) is removed.

Therefore, no 1.5% SDRT charge arises on any issue of chargeable securities.