The following Tax guidance note provides comprehensive and up to date legal information covering:
If an exemption from stamp duty applies, a document (ie an instrument of transfer) which would otherwise be subject to UK stamp duty is exempt from such duty. This Practice Note outlines the key exemptions and reliefs from stamp duty.
HMRC's guidance on stamp duty and stamp duty reserve tax (SDRT) is found in the Stamp Taxes on Shares Manual (STSM). The STSM replaced the old Stamp Taxes Manual. This manual contains guidance not just on shares but also on other types of securities. The old Stamp Taxes Manual is still available online as a PDF document (for which, click here). Some of the content in the STSM is the same or similar to what was in the old Stamp Taxes Manual.
The key exemptions include:
the exemption for transfers where the consideration is £1,000 or less (further outlined in this Practice Note—see: Stamp duty exemption for low value transfers)
the exemption for transfers of non-marketable debentures (further outlined in this Practice Note—see: Stamp duty exemption for non-marketable debentures)
the exemption for transfers of loan capital (for which, see Practice Note: Loan capital exemption from stamp duty, which also outlines the exemption that applied to transfers (made on or after 1 January 2014 but before 12 February 2019) of
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