Electronic Share Trading (CREST)

Overview

Where the transfer of Irish securities takes place electronically through the CREST electronic clearing system a stamp duty charge of 1% arises.

CREST is the name of an electronic clearing system, which settles transfers of shares that are dealt with on selected exchanges.

The Companies Act, 1990 (Uncertificated Securities) Regulations, 1996 (S.I. No. 68 of 1996) gave Irish companies the option of allowing their shareholders:

  • to evidence their title to shares otherwise than by a share certificate
  • and
  • to transfer their shares electronically i.e. without a stock transfer form.

The Regulations provide that electronic transfers must be made through an approved electronic clearing system.

CREST Co Ltd, which is now known as Euroclear UK & Ireland Limited, was approved to operate a system (called CREST) through which shares can be transferred electronically.

The Stamp Duties Consolidation Act, 1999, Sections 68 to 78 deal with electronic transfer of Irish securities.                                                                     

Further information on electronic share trading in Irish securities and details of Interest and Penalties for late payment of Stamp Duty arising on the transfer of Irish securities traded through the CREST electronic clearing system can be found in the Crest manual which is published on the Revenue website.

Guidance note on Intermediary relief and Central Counterparty Relief.

Please read the above guidance note before completing the application form below:

Application forms to reclaim stamp duty can be found at the links below:

Next: Designated exchanges or markets for the purposes of Intermediary relief