Emily Szasz and John Tolman (Freshfields Bruckhaus Deringer) examine the proposals for a new UK stamp tax on securities regime.
Stamp duty modernisation: a long and winding road
Following on from the Office for Tax Simplification (OTS) report in 2017 and a call for evidence issued by HMRC in 2020 a joint HMRC and industry working group has been developing a blueprint for a new UK stamp tax on securities regime which was reflected in an HMRC consultation published on 27 April 2023.
If implemented the changes proposed would be a significant consolidation modernisation and simplification of a regime which is plainly out of step with modern business practices. Six years after the OTS said there was an ‘urgent case for modernisation’ these changes are long overdue.
If this really is to be the end of stamp duty as we know it then it...
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Emily Szasz and John Tolman (Freshfields Bruckhaus Deringer) examine the proposals for a new UK stamp tax on securities regime.
Stamp duty modernisation: a long and winding road
Following on from the Office for Tax Simplification (OTS) report in 2017 and a call for evidence issued by HMRC in 2020 a joint HMRC and industry working group has been developing a blueprint for a new UK stamp tax on securities regime which was reflected in an HMRC consultation published on 27 April 2023.
If implemented the changes proposed would be a significant consolidation modernisation and simplification of a regime which is plainly out of step with modern business practices. Six years after the OTS said there was an ‘urgent case for modernisation’ these changes are long overdue.
If this really is to be the end of stamp duty as we know it then it...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
