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Getting a Stamp Duty Reserve Tax refund

If you pay too much Stamp Duty Reserve Tax (SDRT) on a transaction because you made a mistake, you can claim a refund from HM Revenue & Customs (HMRC).

Whether the SDRT was paid through the CREST system or by some other means, you'll need to write to HMRC to apply for a refund.

This guide explains how to apply for a refund if too much SDRT has been paid. It tells you what information you need to provide, where to send your claim, and how long you have to make a claim.

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Obtaining a refund when the amount input to CREST was incorrect

If too much SDRT has been paid on a share transaction made through the CREST electronic system you can get a refund.

To get a refund you'll need to write to HMRC and provide the following information:

  • the CREST transaction ID (identifier) - this identifies the transaction for which you want a SDRT refund. Note that it is not the STP (straight-through processing) transaction ID
  • the amount of refund you are applying for. In the case of more than one transaction make sure you state the amount of refund required for each individual CREST transaction ID
  • the trade date. This is the date of the agreement to transfer shares
  • the repayment code. Choose a repayment code from the tables below to indicate why a refund is due. If you're claiming a refund for more than one transaction, choose the appropriate code for each
  • your application reference number, if you have one

Repayment code - exemption

Code Reason
1 No change of beneficial owner (NCBO)
2 Charity
3 Intermediary Relief (principal purchase)

Repayment code - incorrect or missing information input to CREST

Code Reason
4 TSS Flag
5 Trade System of Origin or Stock Lending Relief
6 Market sale or American depositary receipt conversion back to underlying shares
7 Stampable consideration
8 Agent indicator

Repayment code - double SDRT payment

Code Reason
9 Cancelled or rebooked trades, or duplicated trades
10 Bulk or split payments, paid both in and outside CREST, paid by both parties
11 Other reasons not listed

Claiming a refund for 15 or more transactions

If you claim for 15 transactions or more in a single application, you should put the information into a spreadsheet and email it to HMRC.

HMRC suggests using the format below for your spreadsheet.

Example spreadsheet format for multiple refund claims

CREST transaction ID Claim Date Repayment code
ABC0225466 £33.22 12/02/03 1
BC00605484 £784.63 01/01/03 2
FG10569882 £12.54 03/11/00 10
ADC0562337 £2120.33 04/11/00 8

Email HMRC Stamp Taxes your completed spreadsheet

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CREST refunds and HMRC accuracy checks

HMRC will send a refund, plus any interest due, for all claims they receive with a valid CREST transaction ID. They won't make any detailed accuracy checks on the claim there and then. But they will check a sample of the claims they receive in detail to make sure they're correct.

HMRC may need to contact you later on to request more information to support your claim. If they do, they'll normally contact you within 60 days of the date when you applied for a refund.

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Obtaining a refund outside of CREST

To get a refund for a transaction that wasn't made through CREST you'll need to write to HMRC and explain why you think a refund is due. You should provide the following in your letter:

  • the original receipt for the SDRT that was paid
  • the trade date
  • the names of the parties involved
  • information about why a refund is due, along with any supporting documents that confirm this

Before they make any refund HMRC will check the details of the claim. They may request more supporting information if you didn't provide enough detail when you first claimed the refund.

If HMRC agrees the refund they will repay the SDRT, usually along with interest from the date when the tax was paid.

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CHAPS refunds for claims of £150,000 or more

If the total amount of the refunds you are applying for is £150,000 or more you can ask for payment by CHAPS electronic transfer. You'll need to include your bank details with your claim.

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Where to send your request for a refund

Send your repayment request to HMRC Birmingham Stamp Office

Birmingham Stamp Office contact details or

e-mail it to; mailbox.sdrt@hmrc.gsi.gov.uk

Mark your letter Stamp Duty Reserve Tax

Use these addresses for all refund claims, whether the transaction was made through CREST or not.

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Time limit for claiming a refund

You can get a refund of overpaid SDRT as long as you claim a repayment within four years of the later of:

  • the date when SDRT became due
  • the date when the SDRT was actually paid

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