Jump to content
Sign in to follow this  

Stamp Duty

Recommended Posts

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?

 

Share this post


Link to post

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.

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×