Share incentives and employment-related securities—stamp duty and stamp duty reserve tax
Produced in partnership with Mahesh Varia and Claire Prentice of Travers Smith
Share incentives and employment-related securities—stamp duty and stamp duty reserve tax

The following Share Incentives practice note produced in partnership with Mahesh Varia and Claire Prentice of Travers Smith provides comprehensive and up to date legal information covering:

  • Share incentives and employment-related securities—stamp duty and stamp duty reserve tax
  • Relevance of stamp duty to share incentive arrangements
  • Relevance of stamp duty reserve tax (SDRT)
  • New issue of shares
  • Transfers of shares
  • Exempt transfers—consideration of nil or less than £1,000
  • Buy-back of shares
  • Shares traded on recognised growth markets
  • Treasury shares
  • Partnership or dividend shares purchased by SIP trustee
  • More...

Share incentives and employment-related securities—stamp duty and stamp duty reserve tax

Coronavirus (COVID-19)— Due to measures put in place to stop the spread of coronavirus (COVID-19) HMRC has temporarily changed the way it deals with stock transfer forms and stamp duty payments. Under these, stamp duty must be paid electronically and transaction details should be sent to HMRC by email rather than by post. See Practice Note: Coronavirus (COVID-19)—tax implications and HMRC guidance: Pay Stamp Duty on shares.

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following a review and a report by the Office of Tax Simplification in 2017, the government has asked for views on the principles and design of a new framework for stamp duty and stamp duty reserve tax (SDRT) to inform a longer-term modernisation of the stamp taxes on shares (STS) framework, including questions on amalgamating stamp duty with SDRT, the scope of stamp duty and SDRT, reporting and collecting STS and enforcement and payment of STS. . The closing date for comments was 13 October 2020. The government envisages that it will consult further on specific policy and legislative changes with no major legislative redesign until Finance Bill 2021–22 at the earliest. See: Call for evidence: modernisation of the stamp taxes on shares framework.

This Practice Note focuses on common stamp duty and stamp duty reserve tax

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