Stamp Taxes - Customer Newsletter - Stamp Duty Reserve Tax (SDRT)

December 2003 Issue No.4 (updated October 2007)

Charity References

Charity ID field: CHID-IRLST

HM Revenue & Customs (formerly Inland Revenue) Stamp Taxes has recently received a number of enquiries from CREST members seeking clarification on the inputting of charity references (as detailed in the CREST Stamp Duty Reserve Tax - A Guide to Market Practice, September 1999 publication).

The purchase of UK registered securities by UK charities is exempt from SDRT, and where exchange members or qualified dealers deliver securities to a counterparty custodian whose underlying client is a charity, the exchange member or qualified dealer ( as the 'accountable person' for SDRT purposes ), is responsible for completing the CREST Transaction Stamp Status (TSS) value with an 'S' and a HMRC Charities (formerly Inland Revenue FICO) or Charity Commissioners reference number in the Charity ID field.

There is, however, one exception to this general rule. Where the exchange member's or qualified dealer's counterparty custodian or fund manager enters into specific arrangements with HMRC Stamp Taxes and agrees to supply the charity details on his side of the matching CREST instruction ( and to retain those details ), the delivering exchange member or qualified dealer is required to complete the Transaction Stamp Status value with 'S', as above, and enter 'CHID-IRLST' in the Charity ID field to indicate that his counterparty will be inputting the relevant charity reference number.

Custodians and Fund Managers wishing to input the charity reference numbers must initially apply in writing to HMRC Stamp Taxes, SDRT Operations, Birmingham, seeking approval to the arrangement and for inclusion on a Published List of custodians and fund managers. Once approval has been granted, it will be the custodians' responsibility to input the charity number in the CREST Charity ID field.

Details of Custodians and Fund Managers approved by Stamp Taxes are listed in the table below - this information can also be accessed on the HMRC Stamp Taxes website

Any requests by firms to be added to or deleted from the Published List (or for details currently held to be amended ) are to be forwarded to

HMRC Stamp Taxes,
SDRT Operations,
9th Floor, City Centre House,
30 Union Street,
Birmingham
B2 4AR.

Telephone: 0845 603 0135
Fax: 0121 633 3921

Start Date	Custodian-Fund Manager Name	User Name (if different)	CREST Participant Code Id:	Address
-	Adam & Co		CZ01	22 Charlotte Square, Edinbugh EH2 4DF
-	Coutts & Co	NatWest Private Banking	DH02G	PO Box 10, Turnpike House, 123 High Street, Crawley RH10 1DQ
-	Soc Gen Nominees (UK) Ltd		CJ01	41 Tower Hill, London EC3N 4SG
-	State Street Bank & Trust Company	Deutsche Bank (Morgan Noms Ltd)	AG01	525 Ferry Road, Edinburgh EH5 2AW
-	Rathbone Investment Management Ltd	Neilson Cobbold Client Nominees Ltd	549	Port of Liverpool Building, Pier Head, Liverpool L3 1NW
-	Schroder Investment Management (UK) Ltd		AJ01	31 Gresham Street, London EC2V 7QA
-	Singer & Friedlander Inv Man Ltd		AK01	21 New Street, Bishopsgate, London EC2M 4HR
-	Smith & Williamson		EL010	9-12 Basinghall Street, London EC2V 5NS
-	Rathbone Investment Management Ltd	Rathbone Nominees Ltd	DP01	Port of Liverpool Building, Pier Head, Liverpool L3 1NW
-	Rathbone Investment Management Ltd	Laurence Keen Nominees Ltd	427	159 New Bond Street, London W1S 2UD
-	ABN Amro Bank NV		IK01	82 Bishopsgate, London EC2N 4BN
14 Jan 2005	Bank of New York Europe Ltd/MLIM	MLIMCHARITY (Nutraco Nominees)	AD01	One Canada Square, London E14 5AL
14 Jan 2005	Bank of New York Europe Ltd/MLIM	BNYE5CHTY (Stamford Nominees)	AD016	One Canada Square, London E14 5AL
28 Jun 2005	Principal Investment Management Ltd		22XKF	16 South Park, Sevenoaks, Kent TN13 1AN