Stamp Tax in CREST: Managing Process & Risk

Overview

This course will give delegates:

• a complete understanding of the fundamentals of stamp tax compliance and hence knowledge of not just how to do their job, but why, that is, the underlying principles
• a thorough working knowledge of the most common situations where stamp tax issues arise and an awareness of the more complicated areas;
• the ability to recognise issues, or potential issues, that should be flagged for attention and further investigation.

This course, now being run for the 21st time, is widely regarded in the securities industry as the training course of choice in this field.

 Content and format

The course will combine seminar presentations to provide a comprehensive overview of the operational side of SDRT, together with practical workshops and Q&A forums. This format ensures that the knowledge mastered from the presentations is embedded through practical application in the workshops and discussion sessions.

The morning will start with grounding in the basics of SDRT and stamp duty. Focusing on the practical application of these taxes, this will include an overview of the basis and scope of SDRT, the key issue of accountability and the main reliefs and exemptions which may be available.

 The rest of the morning will be spent covering operational stamp tax compliance in the CREST environment, examining the key principles and exploring in depth specific compliance issues. In addition, there will also be a session on Irish stamp duty in CREST, followed by further debate and a Q&A session.

 The afternoon session will focus on specific SDRT & Irish Stamp Duty issues that currently exist within the market, together with a detailed look at the procedures and expectations apparent during an HMRC Stamp Taxes – SDRT Operational Assurance audit

 This is a very intensive and interactive course with a strong focus on operational practice. Attendees will be arranged at round tables, in small groups, so they can work as a team for the workshop exercises and exchange ideas throughout the day.

Who should attend?

The course will be beneficial to anyone responsible for operational stamp tax compliance, including observance of the CREST Market Norms (the ‘Blue Book’). In particular it is highly recommended for settlements, trading support, tax and legal personnel at investment banks, securities brokers and dealers.

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