Policy paper

Securities Transfer Tax — modernisation of the Stamp Taxes on Shares Framework

The measure is about the Securities Transfer Tax that will apply on the transfer of securities and replace Stamp Duty and Stamp Duty Reserve Tax.

• From: HM Revenue & Customs
• Published: 13 July 2026
• Last updated: 28 October 2026
  Show all updates

  1. 28 October 2026

     Updated to confirm that Securities Transfer Tax (STT) will commence in late 2027. The Exchequer impact and economic impact have been updated, along with information about the impact on individuals and businesses, including use of the new digital system for transfers outside CREST.

  2. 13 July 2026

     First published.

Documents

Modernisation of the Stamp Taxes on Shares framework — Securities Transfer Tax

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Draft legislation

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Explanatory note

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Details

Stamp Duty and Stamp Duty Reserve Tax are collectively known as Stamp Taxes on Shares.

They will be replaced with a single tax on transfers of securities.

The Securities Transfer Tax, which will be a modern, digital, self-assessed tax, will be introduced in late 2027.