Stamp Duty: Receipts

House of Lords written question – answered on 31st January 2005.

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Photo of Lord Oakeshott of Seagrove Bay Lord Oakeshott of Seagrove Bay Shadow Minister, Treasury

asked Her Majesty's Government:

What were the receipts from stamp duty in transactions on securities listed on the Stock Exchange; and what were the number of such transactions in (a) each full year since 1996–97; and (b) in the first seven months of 2004–05.

Photo of Lord McIntosh of Haringey Lord McIntosh of Haringey Parliamentary Under-Secretary, Department for Culture, Media & Sport, Parliamentary Under-Secretary (Department for Culture, Media and Sport) (Media and Heritage)

Stamp duty reserve tax (SDRT) is charged on transactions in UK securities arising from trading on the London Stock Exchange and other exchanges. SDRT receipts from transactions in shares from 1998–99 onwards are given in Table 15.1 of Inland Revenue statistics:

www.newinternet.inrev.gov.uk/stats/stamp–duty/tablel5–1–september04.pdf

SDRT receipts for 1996–97 and 1997–98 are given in the table below:

1996–97 (£ m) 1997–98 (£ m)
Receipts from:
SDRT 304.7 1,704.5

A provisional estimate for receipts in the first seven months of 2004–05 is £1.3 billion. The number of stampable transactions is not available; however the total number of bargains on the London Stock Exchange is available monthly from December 1998 at:

www.londonstockexchange.co.uk/en–qb/pricesnews/statistics/factsheets/smfs.htm

These figures will include transactions that do not pay stamp duty.

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