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Stamp duty: it's still here

Category Technical Articles
AuthorTechnical Department
Article by Ann L Humphrey, solicitor specialising in indirect taxes. This article appeared in the July 2006 issue of Tax Adviser. When stamp duty land tax was introduced on 1 December 2003, the scope of stamp duty was greatly reduced. FA 2003 s125 specifically provides that stamp duty is now chargeable only on instruments relating to stock and marketable securities. FA 2003 Sch 15 paras 31 and 32 confirm the continued application of stamp duty to transfers of interests in partnerships, whose underlying investments include stock or marketable securities. Stamp duty therefore continues to represent a cost that will need to be factored in to a range of corporate and some other transactions.

July 2006 by Ann L Humphrey

Technical Department
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