stamp duty reserve tax

stamp duty reserve tax
A tax levied on the purchaser of securities bought in paperless form, i.e. via CREST. The UK rate is 0.5% (1.5% on the creation of depositary receipts) of the consideration value rounded to the nearest penny. The liability arises on the trade date. Dresdner Kleinwort Wasserstein financial glossary

Financial and business terms. 2012.

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