Stamp Duty

[ImperialSlug]

Hi,

When is SDRT Charged?

After much research, I made my first trade yesterday, (Am British, with a British Account, and bought IAG). 

I was sure when I opened the ticket, that SDRT was factored in to the price of the trade (as it seemed to be a few pence out from my spreadsheet calculation - I made a mental note to investigate that small differential later). 

Once the trade completed, it seems that I was only charged the book value of the trade plus £8 commission. 

In my trade history, it shows the consideration £xxxx.xx ; Commission £8 ; Charges £0.00 ; Costs/Proceeds as equal to consideration + commission.

 

Everything I have found online suggests that SDRT is charged through the CREST system at the point of transaction. That I should have been charged SDRT there and then. No funds in my account appear to be 'reserved' for SDRT.

I opened a web chat, and the chaps in India looked at my account. The end result of that was a statement that IG don't deal with SDRT, and that I would need to pay it independently. I am not confident that this advice was correct.

 

Can someone please advise? Is the SDRT charged through IG / CREST? Do I have some sort of introductory offer? How long should I keep funds in the account to deal with SDRT? - Am I missing something fundamental here?

 

[ImperialSlug]

Nevermind - Sussed it.

IAG is exempt from Stamp Duty! - as it is a Spanish company.

I now see that companies that have Stamp Duty charged, state so on the product details section. Companies without stamp duty just dont mention it.