On 8 April 2024 HMRC issued further guidance to the Stamp Taxes on Shares manual (the “Manual”) on what constitutes a “capital-raising arrangement” qualifying for exemption from a 1.5% stamp duty and stamp duty reserve tax...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER TURKISH LAW - 1. Agreement Types - Pursuant to Turkish laws, a real estate sale and purchase agreement shall be in an official form and the transfer of ownership of real...more
Key Facts of Real Estate Acquisitions Under Argentinian Law - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly...more
Draft UK legislation was previously published proposing to remove the 1.5% stamp tax charge on issues, and certain transfers, of securities to depositary receipt systems and clearance services (or their nominees) currently...more
On 14 September 2023, HM Revenue & Customs (“HMRC”) published a policy paper, along with explanatory notes and draft legislation, announcing the removal of the 1.5% charge to stamp duty and stamp duty reserve tax (“SDRT”) on...more
HM Revenue and Customs (HMRC) published draft legislation on 14 September for inclusion in Finance Bill 2023-24, which will remove the 1.5% charge to UK stamp duty and stamp duty reserve tax (SDRT) with respect to the issue...more
In a welcome move, the UK government issued a statement yesterday confirming its intention to repeal the 1.5% charge to UK stamp taxes on issuances of securities and any ‘exempt capital-raising transfer’ to a depositary...more
HM Revenue & Customs (“HMRC”) has published a policy paper, accompanied by draft legislation, which confirms the removal of the 1.5% charge to stamp duty and stamp duty reserve tax (“SDRT”) on the issuance of UK shares into...more
New draft UK legislation has been published today proposing to remove the 1.5% stamp tax charge on issues, and certain transfers, of securities to depositary receipt systems and clearance services (or their nominees)...more
In an economy where land prices are rising, it is not unusual for a buyer who has a property under contract to consider flipping all or part of the property to another purchaser for a profit. If a contract gives the buyer a...more
The Retained EU Law (Revocation and Reform) Act 2023 became law in the UK on 29 June 2023. Broad in scope, the Revocation and Reform Act will, with effect from the end of this year, sweep away a number of European...more
The UK government’s proposals for the reform of stamp duty have been widely welcomed; it is generally felt that modernisation and reform are long overdue in this context. Although the proposals are not intended to alter the...more
On 27 April 2023, the UK government announced the administrative companion piece to the Budget announced earlier this year, which includes 23 technical tax policy proposals (although some are merely announcements of future...more
Welcome to April’s edition of our UK Tax Round Up. This month has seen a number of interesting cases highlighting the need for taxpayers and HMRC alike to apply a realistic approach to the facts in assessing the tax...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly governed by the Argentine...more
Transfers of insurance-linked bonds which meet certain conditions will be exempt from UK stamp duties from 17 May 2022. This will be of particular relevance to the insurance sector where such bonds are issued in connection...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER PORTUGUESE LAW - I.INTRODUCTION - Portugal is an Iberian Peninsula country, bordered by the Atlantic to the west and south and Spain to the north and east. In addition to...more
John Wiley & Sons UK2 LLP v Collector of Stamp Revenue [2021] 5 HKLRD 20, [2021] HKCFI 3060 was a ruling on whether the Court of First Instance has jurisdiction to hear a stamp duty appeal under section 14 of the Stamp Duty...more
Types of business entities - The two most common types of legal entities adopted in Argentina are the limited liability company (“Sociedad de Responsabilidad Limitada” or “SRL”) and the corporation (“Sociedad Anónima” or...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly governed...more
Many companies will consider selling their offshore captives/GICs in the wake of COVID-19, especially those in industries hard hit by the pandemic. Large outsourcing vendors are interested in acquiring offshore...more
This article is produced by our London Tax team, which is part of our global Tax practice. Our series, "Understanding Tax", explores commercially relevant and recent changes to the UK's tax code. Opportunities arising from...more