The UK government published a consultation document setting out proposals for further changes to the calculation of consideration for stamp duty and SDRT purposes. Dominic Stuttaford and Greg Branagan (Norton RoseFulbright) review the proposals.
What changes are being proposed to the consideration rules for stamp tax purposes?
HMRC published a consultation on 7 November 2018 which contains the following proposed changes to the rules governing consideration for stamp duty and SDRT purposes:
extending the market value rule currently proposed in Finance (No.3) Bill 2017-19 (FB 2019) cls 46 and 47 so that it applies to share transactions between connected parties (whether legal or natural persons) in respect of both listed and unlisted shares;
amending the definition of ‘consideration’ for stamp duty purposes so that it mirrors the definition used for SDRT purposes; and
aligning the treatment of contingent ...
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The UK government published a consultation document setting out proposals for further changes to the calculation of consideration for stamp duty and SDRT purposes. Dominic Stuttaford and Greg Branagan (Norton RoseFulbright) review the proposals.
What changes are being proposed to the consideration rules for stamp tax purposes?
HMRC published a consultation on 7 November 2018 which contains the following proposed changes to the rules governing consideration for stamp duty and SDRT purposes:
extending the market value rule currently proposed in Finance (No.3) Bill 2017-19 (FB 2019) cls 46 and 47 so that it applies to share transactions between connected parties (whether legal or natural persons) in respect of both listed and unlisted shares;
amending the definition of ‘consideration’ for stamp duty purposes so that it mirrors the definition used for SDRT purposes; and
aligning the treatment of contingent ...
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:
