Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Stamp duty definition

What does Stamp duty mean? Stamp duty is a documentary tax on instruments that transfer certain assets, most commonly UK certificated shares. In practice, it is paid on the executed stock transfer form, which must be stamped before the transferee can be registered. The charge is imposed by UK legislation (principally the Stamp Act 1891, as amended) and arises on execution of the instrument; HMRC collects the duty via the stamping process, with penalties and interest for late stamping. Reliefs and exemptions exist (for example for certain intra-group transfers and charities). For electronic or uncertificated share transfers, stamp duty reserve tax (SDRT) generally applies instead; where...

Transfers of private equity limited partnership interests: UK stamp duty, SDRT and future STC: scope, calculation, exemptions, adjudication, penalties and UK/non-UK partnership considerations

Published by a LexisNexis Tax expert

Practice notes

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework:

In 2027, Stamp duty and SDRT will be replaced by a single, self‑assessed tax on securities—the securities transfer charge (STC)—which will be paid and filed through a new online portal. The design of the STC will largely align with the proposals consulted on in 2023. Finance Bill 2026 (FB 2026) confers a power, commencing on Royal Assent, to make secondary legislation enabling taxpayers to test the digital service by self‑assessing their stamp taxes on securities and submitting transactions electronically. For further information on the programme to modernise stamp taxes on securities, see News Analyses: Budget 2025—Tax analysis—Stamp and transfer taxes; Tax update spring 2025—Stamp taxes on shares modernisation; Tax update spring 2025—Tax analysis—Stamp and transfer taxes; TAMD 2023—Stamp taxes on shares modernisation; TAMD 2023—consultation—stamp taxes on shares; and Tax Administration and Maintenance Day—27 April 2023—Stamp and transfer taxes.

FORTHCOMING CHANGE relating to a new SDRT exemption:

As announced at Budget 2025, a new exemption from the principal (but not higher rate) charge to SDRT—referred to as the...

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Emily Clark

Travers Smith

Emily trained at Travers Smith and is a partner in the tax group. She specialises in the taxation of investment funds acting for private equity houses, hedge funds and real estate funds.She advises on fund formation and on tax-efficient structures for fund managers, carried interest and LLP conversions. She has particular expertise in tax structuring for non-domiciled investors and fund managers.Emily also has extensive experience of group restructuring, international tax, joint ventures and real Emily is a member of the British Property Federation´s tax committee....

Web page updated on 21/05/2026

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