Description of service
Stamp Duty Reserve Tax (SDRT) is paid on electronic 'paperless' share transactions, and most shares are bought and sold this way. Transactions included are share purchase submissions and ameded submissions. (When you buy shares using a paper stock transfer form you pay Stamp Duty rather than SDRT.)
Key performance indicators
Transactions per year
391m
Q2 2013
-10.78%
Q4 2012
Digital take-up
100%
Q2 2013
0%
Q4 2012
Total Cost
£23.4m
Q2 2013
+7.06%
Q4 2012
Cost per transaction
£0.06
Q2 2013
+20%
Q4 2012
Notes on costs
1.Transaction and cost numbers have been collected using 2012/13 outturn data. The number of Stamp Duty Reserve Tax transactions has fallen in comparison to 2011-12, due to a rise in agents 'bundling' share dealing transactions when transacting with HMRC.
2. Unit cost data has been constructed using paybill data, with a 23% uplift for overheads. HMRC's costing framework is in development, and changes are in train to improve the accuracy of estates and IT cost apportionment.
3. Assumptions have been made about the balance of cost for transactional and enforcement/ other activity where business units mix both.
4. Additional IT investment to facilitate digital may alter the cost balance, with additional depreciation charges increasing online cost.
