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Each month, a unit trust manager or an Authorised Corporate Director of an Open-Ended Investment Company (OEIC) is required, as an ‘accountable person�, to fsubmit to HM Revenue & Customs, on, or before, the ‘accountable date� a notice in writing under Regulation 4B of the Stamp Duty Reserve Tax Regulations 1986 (SI 1986/1711).

A notice must give details of the number and value or surrendered units/OEIC shares undertaken in the ‘relevant two-week periods� of the previous month, together with any payment of any Stamp Duty Reserve Tax (SDRT) due.

The ‘accountable date� is defined as the fourteenth day following the month in which the relevant ‘two-week� period ends, where units in a unit trust or shares in an OEIC are surrendered to the unit trust manager/Authorised Corporate Director of the OEIC (Regulation 2 SI 1986/1711).

The FA99/SCH19 charge applies only to units and OEIC shares which are surrendered and transferred prior to 30 March 2014. See STSM103005

See STSM103070 for the meaning of a ‘relevant two-week period�.

See STSM101020 for the meaning of a unit trust.

See STSM101050 for the meaning of an Open-Ended Investment Company (OEIC).

See STSM103050 for the meaning of an ‘accountable person�.

See STSM104080 for information on details to be included in a SDRT notice.