Financial services (FS) in 2023 is not the same as it was in 2003. There still exists banking and capital markets investment management and insurance sectors but the lines between them have blurred. How these firms and the supporting infrastructure interact has evolved and expanded. Conversely the heads of charge to stamp duty and the principal charge of SDRT have remained relatively static subjected only to targeted efforts by HMRC in a bid to eliminate avoidance and align with regulatory change. In this article I discuss how the securities stamp taxes have been impacted by the evolution of the FS ecosystem since the birth of SDLT in 2003.
The relevant stamp duty and SDRT legalisation is largely contained within three Acts....
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Financial services (FS) in 2023 is not the same as it was in 2003. There still exists banking and capital markets investment management and insurance sectors but the lines between them have blurred. How these firms and the supporting infrastructure interact has evolved and expanded. Conversely the heads of charge to stamp duty and the principal charge of SDRT have remained relatively static subjected only to targeted efforts by HMRC in a bid to eliminate avoidance and align with regulatory change. In this article I discuss how the securities stamp taxes have been impacted by the evolution of the FS ecosystem since the birth of SDLT in 2003.
The relevant stamp duty and SDRT legalisation is largely contained within three Acts....
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If you do not subscribe but are a registered user, please enter your details in the following boxes: