hello, I’m completely new to the investment world and I wish someone could instruct me on how I pay the Stamp Duty Reserve Tax (SDRT), I need a step by step, I bought a few shares, now I don’t know how I do it pay the fees and notify the Revenue. I live in London.
The fee has been taken during your purchase of the shares. if the SDRT applies to the given share, it will be mentioned on the review window before you confirm.
If you are doing this in the Invest account, all other declarations to HMRC are done when you declare your taxes as a single process for the tax year in full and only if you have earnt/done enough to be required to fill out a tax declaration form if I recall. there is a form for this on the HMRC gov site.
Someone will likely correct anything I have mistaken above.
The isa would be your best option for future taxes also up to 20k per year and your current tax limit for profit (£12800 I believe).
The stamp duty is calculated automatically at the point of purchase as previously mentioned so no work on your behalf there