Stamp duty on shares to be replaced by Securities Transfer Tax

Tax Reform Plans

Chancellor John Healey's Budget left existing share stamp duties unchanged, drawing criticism from industry figures who termed the lack of reform a missed opportunity. HM Treasury documents confirmed that current Stamp Duty and Stamp Duty Reserve Tax on shares will be replaced by a new Securities Transfer Tax by late 2027 under the Finance Bill 2026-27. While the overhaul aims to modernise the framework, commentators noted it leaves the level of taxation unchanged.