Examples where the principal 0.5% SDRT charge under FA86/S87 does not apply include:

securities the transfer of which is exempt from all stamp duties (FA86/S99(5) & (5ZA)), and rights and interests relating to such securities e.g. loan capital exempt under FA86/S79(4) and government stocks (gilts).

securities which are not chargeable securities. This includes:

securities outlined in FA86/S99(4) – non-UK incorporated companies with no UK share register,

(4B) – securities admitted to trading on a recognised growth market,

(5A) – unit trusts schemes where the trustees of the scheme are resident outside of the UK

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