Skip to content
Solved

STSM142130 | Stamp duty and SDRT administration: SDRT administration: SDRT Information Powers

From HM Revenue & Customs · Stamp Taxes on Shares Manual

Information and Inspection Powers – SDRT

On 1 April 2010, most specific Stamp Duty Reserve Tax (SDRT) information and inspection powers within the Stamp Duty Reserve Tax Regulations (SI 1986/1711) were replaced by powers within Schedule 36 FA2008.

Guidance on the Schedule 36 FA2008 information and inspection powers is available in the Compliance Handbook.

Owing to the provisions of regulation 20 SI 1986/1711, certain information powers within Taxes Management Act 1970 (as modified by regulation 20) also apply to SDRT, including:

  • The power to obtain copies of registers of chargeable securities (section 23 TMA 1970);

  • The power to require returns by issuing houses, stockbrokers etc. (section 25 TMA 1970); and

  • The power to require nominee shareholders to provide details of the beneficial owner of chargeable securities held in their name (section 26 TMA 1970)