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Trading Reference Links
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http://www.proshare.org/pi/7-tax.asp
Buying shares - Stamp Duty
When you buy shares you have to pay stamp duty to the government.
New rules brought in from October 1999 set stamp duty at 0.5% of the
value of the share purchase, with a minimum charge of £5. For all
charges above this minimum, the rate of stamp duty will be rounded up
to the nearest £5. For any transactions involving unit trusts the
original levy of £0.50 in every £100 still applies (£0.50 minimum
charge).
Your stockbroker will add this tax to the cost of any share that you
buy. When share purchases are settled electronically within CREST the
transaction is liable to Stamp Duty Reserve Tax (SDRT). This is charged
at an exact rate of 0.5% (with no rounding up) of the initial purchase
price.
uenal.mutlu@xxxxxxxxxxx wrote:
Could someone enlighten me what
the "stamp tax" in UK is?
What total costs are there in UK for trading stocks?
(An example would be fine)
What's the big difference to US?
TIA
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