Re: [RT] UK trading

[Dan Goncharoff <TheGonch@xxxxxxxxxxx>]

I believe stamp duty applies to all shares trades within the UK. If you
buy UK shares outside the UK, stamp would not apply. Similarly, it does
not apply to ADR trades on UK underlying shares if the ADRs are traded
outside the UK. It does apply to any shares purchased within the UK,
even if the purchaser is outside the UK.

The industry has been trying to get the government to drop the tax for
many years.

Regards
DanG

uenal.mutlu@xxxxxxxxxxx wrote:

  
  
  
  
  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
 >
    <div
 >-----
Original Message ----- 
    <div
 >From:
    Dan
Goncharoff 
    <div
 >To:
    <a href=""
 title="realtraders@xxxxxxxxxxxxxxx">realtraders@xxxxxxxxxxxxxxx 
    <div
 >Sent:
Wednesday, November 19, 2003 4:21 PM
    <div
 >Subject:
Re: [RT] UK trading
    
    
    <a href=""
 class="moz-txt-link-freetext">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 href=""
 class="moz-txt-link-abbreviated">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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