How to pay Stamp Duty Reserve Tax
This guide offers a reminder of Stamp Duty Reserve Tax (SDRT) payment deadlines and explains all of the available payment options.
HM Revenue & Customs (HMRC) recommends that you make all of your SDRT payments electronically. Paying electronically:
- is safe and secure
- gives you better control over your money
- provides certainty about when your payment will reach them
- avoids postal costs and delays
- may lower your bank charges
- lets you pay at a time convenient to you if you use Internet or telephone banking
There are three main types of SDRT payment:
- stocks and shares CREST payments
- stocks and shares payments made outside of CREST (‘Off Market payments’)
- Unit Trust and OEIC payments made outside of CREST
The payment deadlines, payment reference numbers and HMRC bank account details are different in each case.
On this page:
- Update: changes to HMRC bank account details from 5 October 2009
- Stamp Duty Reserve Tax payment deadlines
- Paying by Internet, telephone banking or BACS Direct Credit
- Paying by CHAPS transfer
- Paying by post
- Paying from an overseas bank account
- Correspondence or receipt requests
- Information about the Faster Payment service
- More useful links
Update: changes to HMRC bank account details from 5 October 2009
HMRC bank account details for paying Stamp Duty Reserve Tax changed from 5 October 2009. If you make payments by BACS Direct Credit, Internet or telephone banking, CHAPS or from an overseas account the new account details are included below. Please note these for future reference.
HMRC is now using Citi for BACS Direct Credit, Internet and telephone banking, CHAPS and payments from an overseas account.
If you experience problems using the new account details
HMRC is working closely with the banking industry to ensure their systems are updated to reflect the new HMRC bank account details. However please be aware that not all banks will be able to make the change immediately and for a short period you may need to continue to use the old account details. Please be assured that if this is the case your payment will be received by HMRC and credited to your Stamp Duty Reserve Tax account.
Stamp Duty Reserve Tax payment deadlines
Stocks and shares CREST payments
A large proportion of UK shares are held in an electronic system called CREST. CREST automatically deducts SDRT from chargeable trades and pays over the tax to HMRC. Where securities are capable of being settled in CREST, payment and notice are due 14 calendar days after the trade date.
A CREST Transaction ID (identifier) is automatically generated by the CREST system when trade details are entered. Each trade has a CREST Transaction ID.
You must be a member of CREST to use this system.
Stocks and shares payments outside of CREST (‘Off Market’ payments)
Your payment and notice should reach HMRC by the seventh of the month following the month in which the date of the agreement takes place for example for an agreement date of 18 April 2009 the payment would be due by 7 May 2009.
Unit Trust and OEIC payments made outside of CREST
For monthly notices, your payment and notice should reach HMRC by the 14th of the following month. For example, if you execute a transaction on 10 May 2009 your payment and notice should reach HMRC by 14 June 2009.
Interest will be payable for any payment of SDRT not made by the required date.
Paying Stamp Duty Reserve Tax by Internet, telephone banking or BACS Direct Credit
If paying outside the CREST system, you can use your bank/building society services to pay SDRT by Internet, telephone banking or BACS Direct Credit (available to some businesses where the payment is transmitted direct to HMRC using BACS Direct Credit files).
To make a payment you will need the account details given below and in the case of Unit Trust or OEIC payments, your SDRT reference number.
It normally takes three bank working days for payment to reach HMRC. Bank working days are Monday to Friday excluding bank holidays. Some banks and building societies can take longer. You should check with your bank or building society to see how long they take to transfer payment and what their cut-off time is for initiating payment. If they take longer you will need to initiate payment earlier. If your payment is made using the wrong sort code or account number there may be a delay in updating your record or the payment may not be received at all.
If your cleared payment arrives late interest will be charged.
Providing HMRC bank account details
To pay your SDRT you will need to provide your bank with HMRC’s bank account details:
| Payment type | Sort code | Account number | Account name |
|---|---|---|---|
| Off Market | 08 32 10 | 12237210 | HMRC Stamp Office Shares Unit |
| Unit Trust or OEIC | 08 32 10 | 12237229 | HMRC Stamp Office SHS Unit 2 |
Bank account changes from 5 October 2009
The account details above were updated on 5 October 2009. Please note these for future reference. You should also arrange to update any templates or transactions that you have stored for online banking purposes.
If you experience problems using the new account details
HMRC is working closely with the banking industry to ensure their systems are updated to reflect the new HMRC bank account details. However please be aware that not all banks will be able to make the change immediately and for a short period you may need to continue to use the old account details. Please be assured that if this is the case your payment will be received by HMRC and credited to your Stamp Duty Reserve Tax account.
Information you need to provide to HMRC
When making a payment outside CREST, as well as making the payment you must also provide the following information to HMRC in writing:
- trade name
- full name, description and number of securities
- payment amount
- when SDRT is due
- the reasons why the tax had been paid outside CREST
- your SDRT reference number (Unit Trust and OEIC payments only)
- what type of SDRT payment you are making
Your SDRT reference number
You will only need to provide details of your SDRT reference number when you are making a Unit Trust or OEIC payment. If you don’t have this please contact HMRC on Tel 0845 603 0135 to obtain one.
The reference will consist of three to six characters with the first three characters being alpha, followed by one to three numeric characters, for example XYZ1 (for a four-character reference number) or XYZ299 (for a six-character reference number)
It is important that you provide an accurate reference number otherwise it could lead to delays in updating your record.
Reference numbers for Off Market payments will be allocated by HMRC when they receive your payment.
Paying Stamp Duty Reserve Tax by CHAPS transfer
The CHAPS system enables you to tell your bank to make an immediate payment which will reach HMRC on the same day, provided you initiate payment within the time specified by your bank (usually between 9.00 am and 3.00 pm).
CHAPS payments are more expensive than other payment methods but may be of benefit if you are making very large payments.If your payment is made with the wrong sort code or account number there may be a delay before your account is credited or your payment may not be received at all.
Providing HMRC bank account details
When using this system you will need to provide your bank or building society with HMRC’s bank details:
| Payment type | Sort code | Account number | Account name |
|---|---|---|---|
| Off Market | 08 32 10 | 12237210 | HMRC Stamp Office Shares Unit |
| Unit Trust or OEIC | 08 32 10 | 12237229 | HMRC Stamp Office SHS Unit 2 |
Bank account changes from 5 October 2009
The account details above were updated on 5 October 2009. Please note these for future reference. You should also arrange to update any templates or transactions that you have stored for online banking purposes.
If you experience problems using the new account details
HMRC is working closely with the banking industry to ensure their systems are updated to reflect the new HMRC bank account details. However please be aware that not all banks will be able to make the change immediately and for a short period you may need to continue to use the old account details. Please be assured that if this is the case your payment will be received by HMRC and credited to your Stamp Duty Reserve Tax account.
Information you need to provide to HMRC
When making a payment outside CREST as well as making the payment, you must also provide the following information to HMRC in writing:
- trade name
- full name, description and number of securities
- payment amount
- when SDRT is due
- the reasons why the tax had been paid outside CREST
- your SDR reference number (Unit Trust and OEIC payments only
- what type of SDRT you are paying
Your SDRT reference number
You will only need to provide details of your SDRT reference number when you are making a Unit Trust or OEIC payment. If you don’t have this please contact HMRC on Tel 0845 603 0135 to obtain one.
The reference will consist of three to six characters with the first three characters being alpha followed by one to three numeric characters, for example XYZ1 (for a four-character reference number) or XYZ299 (for a six-character reference number)
It is important that you provide an accurate reference number otherwise it could lead to delays in updating your record.
Reference numbers for Off Market payments will be allowed by HMRC when they receive your payment.
Paying Stamp Duty Reserve Tax by post
HMRC recommends that you make your SDRT payments electronically.
Electronic payments are generally more efficient and secure, provided you give them an accurate reference number.
However if paying by post please:
- make your cheque payable to ‘HM Revenue & Customs only’ followed by your SDRT reference number
- do not fold the cheque and do not fasten it with paper clips or staples or in any other manner
Post to:
Birmingham Stamp Office
9th Floor
City Centre House
30 Union Street
Birmingham
B2 4AR
To allow for possible postal delays (for which HMRC is not responsible) please allow at least three working days for your payment to reach them.
Paying Stamp Duty Reserve Tax from an overseas bank account
You can pay your SDRT from a bank outside the UK. You should check with your bank or building society to see how long it takes to transfer a payment. Payment can only be made in sterling.
Providing HMRC bank account details
Bank account changes from 5 October 2009
The account details below were updated on 5 October 2009. Please note these for future reference. You should also arrange to update any templates or transactions that you have stored for online banking purposes.
If you experience problems using the new account details
HMRC is working closely with the banking industry to ensure their systems are updated to reflect the new HMRC bank account details. However please be aware that not all banks will be able to make the change immediately and for a short period you may need to continue to use the old account details. Please be assured that if this is the case your payment will be received by HMRC and credited to your Stamp Duty Reserve Tax account.
You’ll need to provide your bank with the following details.
| Payment type | International Bank Account Number (IBAN) | Swift Bank Identifier Code (BIC) | Account name |
|---|---|---|---|
| Off Market | GB43CITI08321012237210 | CITIGB2L | HMRC Stamp Office Shares Unit |
| Unit Trust or OEIC | GB15CITI08321012237229 | CITIGB2L | HMRC Stamp Office SHS Unit 2 |
Note: Where an IBAN is shown you must give this number as well as the SWIFT BIC.
If your payment is made using the wrong account details there may be a delay before your account is credited or your payment may not be received at all.
Information you need to provide to HMRC
When making a payment outside CREST as well as making the payment, you must also provide the following information to HMRC in writing:
- trade name
- full name, description and number of securities
- payment amount
- when SDRT is due
- the reasons why the tax had been paid outside CREST
- your SDR reference number (Unit Trust and OEIC payments only)
- what type of SDRT you are paying
Your SDRT reference number
You will only need to provide details of your SDRT reference number when you are making a Unit Trust or OEIC payment. If you do not have this please contact HMRC on Tel 0845 603 0135 to obtain one.
The reference will consist of three to six characters with the first three characters being alpha, followed by one to three numeric characters, for example XYZ1 (for a four-character reference number) or XYZ299 (for a six-character reference number)
It is important that you provide an accurate reference number otherwise it could lead to delays in updating your record.
Reference numbers for Off Market payments will be allocated by HMRC when they receive your payment.
Stamp Duty Reserve Tax correspondence or receipt requests
In order to minimise costs to all taxpayers HMRC does not automatically issue receipts for payments. If you have made your payment electronically using one of the methods described elsewhere in this guide you can confirm from your own bank or building society statement that payment has cleared your account.
However, if you are paying HMRC by post and you need to ask for a receipt you should include a separate letter with your payment. HMRC cannot identify any instructions written on payslips as they are processed automatically.
If you wish to tell HMRC about a change (such as a new address) you will need to include a separate letter with your payment if paying by post, or write to them separately if you have made your payment electronically.
Postal address for correspondence
Birmingham Stamp Office
SDRT Team
9th Floor
City Centre House
30 Union Street
Birmingham
B2 4AR
Information about the Faster Payment service
HMRC is currently unable to receive or make payments using the Faster Payment service, which is offered by some banks.
For a bank’s customer to make a Faster Payment, both banks involved in the transaction need to be members of the Faster Payment Scheme. The Bank of England, which is currently HMRC’s banking supplier, made a decision some time ago to withdraw from the provision of retail banking services to its customers (one of which is HMRC) and has not joined the Faster Payments Scheme.
HMRC is in the process of moving its business to a new banking supplier. Following this migration the opportunity for using the Faster Payments service will be reviewed.
