Part IV Stamp duty and Stamp duty reserve tax

Stamp duty

127 Company acquisition reliefs: redeemable shares.

1

Amend section 75 of the M1Finance Act 1986 (acquisitions: reliefs) in accordance with subsections (2) and (3).

2

In subsection (4), in paragraph (a) (which requires that the consideration for the acquisition consists of or includes the issue of shares) after “the issue of" insert “ non-redeemable ”.

3

In subsection (4), after paragraph (b) add—

In paragraph (a) above, “non-redeemable shares” means shares which are not redeemable shares.

F14

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5

This section has effect in relation to instruments executed after the day on which this Act is passed.