Part IVStamp duty and Stamp duty reserve tax
Stamp duty
127Company acquisition reliefs: redeemable shares
1
Amend section 75 of the [1986 c. 41.] Finance 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.
4
In section 76 of the [1986 c. 41.] Finance Act 1986 (acquisitions: further provisions about reliefs) in subsection (3)(a) (which requires that the consideration for the acquisition consists of or includes the issue of shares) for “shares” substitute “non-redeemable shares (within the meaning of section 75(4)(a) above)”.
5
This section has effect in relation to instruments executed after the day on which this Act is passed.