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SCHEDULES

SCHEDULE 9U.K.Taxation provisions relating to nuclear transfer schemes

Part 5 U.K.Stamp duty etc.

34(1)Stamp duty is not to be chargeable—U.K.

(a)on a nuclear transfer scheme, or

(b)on an instrument certified by the Secretary of State to the Commissioners of Inland Revenue as made for the purposes of such a scheme, or as made for purposes connected with such a scheme,

except to the extent that the scheme or instrument includes provision in relation to private transfers.

(2)But where, by virtue of sub-paragraph (1), stamp duty is not chargeable at all, or is chargeable only to a reduced extent, on a nuclear transfer scheme or instrument, the scheme or instrument is to be treated as duly stamped only if—

(a)in accordance with section 12 of the Stamp Act 1891 (c. 39) it has been stamped with a stamp denoting either that it is not chargeable to duty or that it has been duly stamped; or

(b)it is stamped with the duty to which it would be chargeable apart from sub-paragraph (1).

(3)An agreement which is made for the purposes of a nuclear transfer scheme or purposes connected with such a scheme is not to give rise to stamp duty reserve tax except to the extent that the agreement relates to private transfers.

(4)In this paragraph—

Commencement Information

I1Sch. 9 para. 34 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1