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