Budget 2018: the chancellor has announced that a new market value rule will apply in policy document 'Stamp Duty, Stamp Duty Reserve Tax transfers of listed securities and connected parties'.

From 29 October 2018:

  • A new market value rule will apply where listed securities are transferred to a connected company.
  • This will impact Stamp Duty on paper transfers and Stamp Duty Reserve Tax (SDRT) on shares acquired electronically.
  • Connected’ is defined in s1122 CTA 2010 and includes companies controlled by spouses, brothers, sisters, ancestors, and lineal descendants.

Useful links:

Budget 2018 live highlights

Budget 2018 summary

External link

HMRC: Stamp Duty, Stamp Duty Reserve Tax transfers of listed securities and connected parties

 

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