Finance Act 1999, Paragraph 25A is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F125A(1)Subject to sub-paragraph (3), stamp duty is not chargeable under this Schedule on —U.K.
(a)the transfer of stock, marketable securities or an interest in a partnership to a depositary under an authorised contractual scheme, to be held as part of the property subject to the scheme, in exchange for the issue of units in the scheme (and for no other consideration);
(b)transfers between depositaries under the same authorised contractual scheme;
(c)the transfer of units in an authorised contractual scheme.
(2)In sub-paragraph (1), “authorised contractual scheme” has the meaning given in section 237(3) of the Financial Services and Markets Act 2000 and “depositary” and “units” have the meaning given in section 237(2) of that Act.
(3)This paragraph shall not apply where the transfer forms part of arrangements of which the main purpose, or one of the main purposes, is the avoidance of stamp duty or stamp duty reserve tax.]
Textual Amendments
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