The consultation on proposals to modernise and rationalise the framework for stamp taxes on shares runs until 22 June. The Office for Tax Simplification report in 2017 first recommended the modernisation and digitalisation of stamp duty and since November 2021 an industry working group has been considering the detail of the shape of the reforms with HMRC following the 2020 call for evidence.
The proposal is for a mandatory single tax on equity and debt with equity-like features to replace the current framework of stamp duty and SDRT. The consultation does not however consider the 1.5% charge as that will be dealt with in a separate...
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The consultation on proposals to modernise and rationalise the framework for stamp taxes on shares runs until 22 June. The Office for Tax Simplification report in 2017 first recommended the modernisation and digitalisation of stamp duty and since November 2021 an industry working group has been considering the detail of the shape of the reforms with HMRC following the 2020 call for evidence.
The proposal is for a mandatory single tax on equity and debt with equity-like features to replace the current framework of stamp duty and SDRT. The consultation does not however consider the 1.5% charge as that will be dealt with in a separate...
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: