In its final report on proposals for reforming the paper certification of stamp duty on share transactions, the OTS has recommended making stamp duty a fully digitised assessable tax, with the territorial scope aligned more closely with stamp duty reserve tax (SDRT) to exclude non-UK shares.
In its final report on proposals for reforming the paper certification of stamp duty on share transactions, the OTS has recommended making stamp duty a fully digitised assessable tax, with the territorial scope aligned more closely with stamp duty reserve tax (SDRT) to exclude non-UK shares.
The report makes the following main recommendations:
In addition, the report makes a further series of technical recommendations for simplification. See http://bit.ly/2tzG2Cj.
The majority of share transactions today are handled electronically via the CREST settlement system for SDRT. However, some 100,000 transactions each year still involve the physical stamping of documents. The review was launched in December 2016 and the OTS published its interim report in March.
In its final report on proposals for reforming the paper certification of stamp duty on share transactions, the OTS has recommended making stamp duty a fully digitised assessable tax, with the territorial scope aligned more closely with stamp duty reserve tax (SDRT) to exclude non-UK shares.
In its final report on proposals for reforming the paper certification of stamp duty on share transactions, the OTS has recommended making stamp duty a fully digitised assessable tax, with the territorial scope aligned more closely with stamp duty reserve tax (SDRT) to exclude non-UK shares.
The report makes the following main recommendations:
In addition, the report makes a further series of technical recommendations for simplification. See http://bit.ly/2tzG2Cj.
The majority of share transactions today are handled electronically via the CREST settlement system for SDRT. However, some 100,000 transactions each year still involve the physical stamping of documents. The review was launched in December 2016 and the OTS published its interim report in March.