Stamp Duty on shares to be replaced by Securities Transfer Tax

By The Financial Edition · 28 October 2026 · 14:55 GMT · Investment Week · 1 min read

Photograph: Diego Delso, delso.photo · CC BY-SA · sector illustration, not event evidence

Modernising Share Transfers

HM Treasury has announced the introduction of the Securities Transfer Tax, scheduled to take effect by late 2027 as part of the Finance Bill 2026-27. The new tax will replace existing Stamp Duty and Stamp Duty Reserve Tax (SDRT) on shares. The changes follow previous consultations in 2023 and 2025 alongside draft legislation published in July.

Industry Response

The Treasury noted that industry feedback suggested cutting stamp taxes on shares could boost the competitiveness of UK capital markets. Nick Britton, research director at the Association of Investment Companies, described the move as a technical change rather than a shift in taxation levels, noting its fiscal impact would be minimal.

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