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Stamp duty reserve tax: Difference between revisions
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{{Tag|Executing broker}} will generally be exempt from SDRT when it buys UK equities for its own account in the process of handling client orders (i.e. where it is acting as a [[principal]] and not an [[agent]]), but SDRT will apply on the corresponding sale between the executing broker and the client, so the revenue will get its pound of flesh (and actually more, because tax is payable on the gross price including commission). | {{Tag|Executing broker}} will generally be exempt from SDRT when it buys UK equities for its own account in the process of handling client orders (i.e. where it is acting as a [[principal]] and not an [[agent]]), but SDRT will apply on the corresponding sale between the executing broker and the client, so the revenue will get its pound of flesh (and actually more, because tax is payable on the gross price including commission). | ||
==={{isdama}}=== | |||
[[Stamp duty]] is excluded from the definition of {{isdaprov|Tax}} in the {{isdama}}. You’ll never guess why. Unless you go to that article, of course. | |||
===See also=== | ===See also=== | ||
*{{isdaprov|Tax}} {{isdama}} | |||
*{{tag|Executing broker}} | *{{tag|Executing broker}} | ||
*[[Give-ups]] | *[[Give-ups]] | ||
*[[principal]], [[agent]] and [[riskless principal]]. | *[[principal]], [[agent]] and [[riskless principal]]. | ||