SolvedSTSM132040 | CREST: CREST & SDRT: centrally generated tax status
From HM Revenue & Customs · Stamp Taxes on Shares Manual
There are circumstances when the tax status of an account can be pre-set in CREST. In such circumstances CREST will automatically apply the pre-set tax status when settling a transaction: this will override any transaction status flag input by participants when they enter details of the transaction into CREST.
Some of the most common ones are:
| “A” | 0.5% SDRT due (this is the default code, where SDRT is due at the standard rate). |
|---|---|
| “C” | 1.5% SDRT due for transfers into Depositary Receipt Issuer Schemes and Clearance Services). |
| “Z” | Exempt from SDRT (commonly used for transfers to accounts designated for charity members). |