Revenue eBrief No. 066/23

15 March 2023

Stamp Duty Manual Part 10 Enforcement - Sections 127 - 13A

Part 10 of the Stamp Duties Consolidation Act (SDCA) 1999 contains a number of enforcement provisions which help to ensure that the correct stamp duty is paid on time. Tax and Duty Manual Stamp Duty - Part 10 of the SDCA 1999 contains general guidance on the operation of these provisions.

Section 79 of Finance Act 2022 amended Part 6 SDCA 1999 which relates to electronic trading in shares. It repealed Chapter 1 which applied to the system that operated when shares were settled in the London-based CREST system prior to 15 March 2021. Chapter 2 of Part 6 now solely applies to the electronic settlement of shares.

Section 79 also amended section 134A of the SDCA 1999 in Part 10 which applies penalties to various incorrect stamp duty returns which included "an incorrect operator instruction entered in a relevant system" referred to in Chapter 1 of Part 6 SDCA 199. The updated term used in Chapter 2 is "an incorrect transfer order entered in a settlement system". Tax and Duty Manual Stamp Duty - Part 10 of the SDCA 1999 has been updated in part 10.7 to reflect this change.