Stamp Taxes - Customer Newsletter - Stamp Duty Reserve Tax (SDRT)
April 2003 Issue No.3
Background
In the stamp duty reserve tax (SDRT) Customer Newsletter, issue No 1 dated July 2002, we advised customers of the introduction to changes within the repayments process as well as implementing new assurance procedures. Customers were informed that whilst the new procedures included verification of all transactions, it would only include a detailed post-payment check on a sample of the claims received. This meant that all valid Crest Transaction IDs would be repaid immediately upon receipt, on a without prejudice basis, but SDRT Operations Unit reserved the right to contact customers at a later date (usually within 60 days of the claim date) to request additional supporting material where necessary. Customers were asked to submit certain information when presenting a reclaim, and if multiple transactions were in point, the information was to be supplied on a disk.
Repayments
IR Stamp Taxes (SDRT) is committed to providing a high standard of customer service and always looking for continuous improvement in order to achieve that standard. SDRT reclaims have now been processed in line with the new repayment procedures for 9 months or so, and the way in which customers submit their claims has accordingly been reviewed. As a result, and in order to provide a faster and more effective service, it is suggested that claims be submitted in the following format as per the diagram below:
| Crest Trans ID | Claim | Date | Repayment Code |
| ABC0225466 | £33.22 | 12/02/03 | 1 |
| ABC 0525498 | £504.36 | 12/02/03 | 1 |
| ABC0525467 | £1.32 | 04/09/02 | 2 |
| ABC0625330 | £5601 | 14/07/02 | 8 |
| BC056989910102 | £1036.89 | 30/08/01 | 4 |
| BC00605484 | £784.63 | 01/01/03 | 2 |
| MM36599845 | £3.35 | 14/05/00 | 5 |
| LP22144546 | £6.92 | 09/10/99 | 1 |
| FG10569881 | £69188.22 | 03/11/00 | 8 |
| FG10569882 | £12.54 | 03/11/00 | 10 |
| FG10569833 | £222.30 | 04/11/00 | 10 |
| FG10569884 | £45.71 | 28/06/00 | 1 |
| FG10569880 | £0.45 | 29/06/01 | 10 |
| FG1056988402 | £1.87 | 13/12/01 | 11 |
| ADC0562337 | £2120.33 | 04/11/00 | 8 |
- Crest Transaction ID (not the STP transaction ID) This
is the transaction ID upon which a reclaim of SDRT is being sought.
- Individual SDRT claim amounts This is the individual
amount of tax applied against a relevant Crest Transaction ID (not the total
STP amount).
- Trade Date This is the trade date of the agreement.
- Repayment Code 1 - 11 Please ensure a repayment code is applied against each reclaim.
Failure to submit the above information may result in reclaims being returned with a request for further details. Customers are reminded to include their reference number on any covering letter when submitting a reclaim, and that if multiple transactions of 15 or more are in point, a disk (in Excel format) should be supplied.
If the total reclaim amount is £150,000 or more and payment is required by CHAPS, please remember to send bank details together with the reclaim information.
It is hoped that this newsletter will not only enable SDRT Operations Unit to provide customers with a better quality service, but also to encourage customers to ensure that all reclaim details are submitted in full.
All enquiries surrounding the content of this Newsletter should be addressed to:-
Stamp Taxes
SDRT Operations Unit
Room 5 East Block
Barrington Road
Worthing
West Sussex
BN12 4SE
Telephone: 01903 509471 or 01903 509469
Please note change of address
From 17 November 2006, all enquiries should be sent to:
Birmingham Stamp Office
SDRT Team
9th Floor
City Centre House
30 Union Street
Birmingham
B2 4AR
Tel: 0845 603 0135
Fax: 0121 633 3921
