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Finance Act 2024

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Changes over time for: Paragraph 11

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Stamp duty reserve taxU.K.

11(1)Before section 96 (SDRT: clearance services) insert—

Other charges: clearance services.

(2)In section 96—

(a)in the heading, at the end insert “: 1.5% charge”;

(b)in subsection (1)—

(i)in the words before paragraph (a) omit “Subject to subsection (5) below and sections 97 and 97A below,”;

(ii)in paragraph (b) omit “or issued”;

(c)after that subsection insert—

(1A)The following provisions contain exceptions to the charge to stamp duty reserve tax under this section—

(a)subsection (5) of this section (exception so far as stamp duty is chargeable);

(b)section 97 (general exceptions);

(c)section 97ZA (exception for replacement securities);

(d)section 97A (election for alternative system of charge);

(e)section 97AB (exempt capital-raising transfers);

(f)section 97AC (exempt listing transfers);

(g)section 97AD (exception for transfers of shares held by issuing company);

(h)section 97B (transfers between depositary receipt system and clearance system).;

(d)in subsection (2) omit paragraph (a);

(e)omit subsection (8).

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