On 1 October 2009 the ECJ decision in HSBC Holdings plc, Vidacos Nominees Ltd v HM Revenue & Customs that held that the 1.5% charge to SDRT when securities were issued through clearance services where no charge would otherwise be imposed was a breach to EU Law. A GLO has now been established for claims following this litigation.

The change to the legislation which excluded High Court claims took effect from 1 April and will probably not apply to SDRT claims. If anyone has paid SDRT and wishes to make a claim for repayment please contact a member of the team.