When does Irish Stamp Duty apply for UK investors buying Ireland domiciled shares?
Let us assume I am a UK resident with a UK-based trading account, considering to buy Ireland domiciled ETF shares, such as VWRL.
I am confused whether I will have to pay Irish Stamp Duty of 1% or not.
The stockbrokers list 1% Irish Stamp Duty in their costs section:
Barclays - When is Stamp Duty and PTM Levy charged?
Hargreaves Lansdown - Share dealing charges
However, other sources on the Internet indicate otherwise:
monevator.com/vanguard-etfs-uk/ - "They’re Irish domiciled, so you skip stamp duty." www.fool.co.uk/news/investing/2012/05/16/buying-the-ftse-just-got-cheaper.aspx - "HL should not be charging stamp duty on any Irish-domiciled ETF. That doesn't mean they won't try, only that you should complain if they do." and "i bouhgt the ishares via HL, and no stamp duty was paid" [sic]
Who is right?
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And I messaged my broker who responded:
Thank you for your enquiry. Irish domiciled ETFs on the LSE are stamp exempt so you do not have to pay the 1% duty.
(previously I had called the and the lady on the phone said I have to pay it)
Also, I found this page which lists ETFs as exceptions for which stamp duty is not payable:
www.londonstockexchange.com/traders-and-brokers/security-types/etfs/education/what-are-etfs/what-are-etfs.htm
So basically while I think I would have to pay stamp duty if I would want to buy, say, Aer Lingus Group shares, ETFs are an exception and exempt.
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