stockbunny
- 12 Jan 2006 09:59
Hi Chaps and Chappesses,
Stamp duty....bain of our lives.....Does anyone know the correct % that is
applied to work out stamp duty on a share purchase?
I have got a vague recollection that it is 0.5% of the total cost of the shares
being bought, but it would be helpful if anyone can confirm if this is right.
Cheers :>)
Greyhound
- 12 Jan 2006 10:08
- 2 of 5
0.5% shares in UK, 1.5% (I think) on bearer instruments.
oddie
- 12 Jan 2006 10:15
- 3 of 5
Yes, stamp duty is calculated at 0.5% of the total cost of shares: you buy 10,000 worth of shares, you pay 50 in Stamp duty for UK shares.
Shares in companies based abroad, for example PARTYGAMING (based in Gibraltar) you DO NOT pay any stamp duty at all.
As for shares in companies based in Ireland, for example AMINEX, if you sell your shares before you own them, i.e before you pay for them (if you buy on settlement T-10 or T-20 and sell on T-8 or T-18) then the stamp duty gets refunded to your account . On a Nominee account the broker does it for you, but it can take up to 8 weeks to get it back.
Hope it helps.
Greyhound
- 12 Jan 2006 10:18
- 4 of 5
Also, if you're looking at Aminex, Ireland charge 1% stamp. (Great stock!)