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Thx for the info.
Do you know if this also applies to foreign traders
who buy stocks at the London stock exchange?
Ie. is there an exception for traders from abroad
because of double taxation etc. (once there and
secondly income tax in the traders own country)?
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Dan
Goncharoff
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, November 19, 2003 4:21
PM
Subject: Re: [RT] UK trading
<A class=moz-txt-link-freetext
href="">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.<A
class=moz-txt-link-abbreviated
href="">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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