The Stamp Duty and Stamp Duty Reserve Tax (Cassa Di Compensazione E Garanzia S.p.A.) Regulations, SI 2011/2205, remove multiple charges from stamp duty and stamp duty reserve tax from transactions made on a regulated market, a multilateral trading facility or over the counter and which are transferred through certain recognised clearing houses, their members and their nominees.
They come into force on 3 October.
The transfers and agreements eligible for relief are those involving Cassa Di Compensazione E Garanzia S.p.A. (‘CC&G’), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of CC&G and its nominees.
FA 1991 ss 116 and 117 permit HM Treasury to make regulations to remove multiple charges on ‘what is essentially a single sale and purchase’, HMRC said.
The Stamp Duty and Stamp Duty Reserve Tax (Cassa Di Compensazione E Garanzia S.p.A.) Regulations, SI 2011/2205, remove multiple charges from stamp duty and stamp duty reserve tax from transactions made on a regulated market, a multilateral trading facility or over the counter and which are transferred through certain recognised clearing houses, their members and their nominees.
They come into force on 3 October.
The transfers and agreements eligible for relief are those involving Cassa Di Compensazione E Garanzia S.p.A. (‘CC&G’), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of CC&G and its nominees.
FA 1991 ss 116 and 117 permit HM Treasury to make regulations to remove multiple charges on ‘what is essentially a single sale and purchase’, HMRC said.
