News & Analysis as of

Stamp Taxes United Kingdom

Cadwalader, Wickersham & Taft LLP

UK Guidance on Capital-Raising Arrangements

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

Hogan Lovells

Third time lucky? 1.5% UK stamp tax vs “Brexit 3.0” - update

Hogan Lovells on

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

Cadwalader, Wickersham & Taft LLP

Tax Abolition (but of a tax not actively collected)

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

Morgan Lewis

UK Stamp Taxes: HMRC Publishes Draft Legislation to Remove 1.5% Charge

Morgan Lewis on

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

Cooley LLP

UK Government Announces Repeal of 1.5% Stamp Tax Charge on Issuances, Certain Transfers of Shares to Depositary Receipt Issuers,...

Cooley LLP on

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

Goodwin

Sunset on (some) Stamp Taxes: HMRC confirms 1.5% charge on issuance and capital raising transfers to depositary receipt and...

Goodwin on

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

Hogan Lovells

UK Stamp Taxes – Removal of 1.5% “Brexit” charge – in the nick of time?

Hogan Lovells on

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

Cooley LLP

New UK Legislation Raises Prospect of 1.5% Stamp Tax Charge on Equity Financings

Cooley LLP on

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

A&O Shearman

A brave new world for stamp duty?

A&O Shearman on

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

Cadwalader, Wickersham & Taft LLP

UK Tax Administration and Maintenance Day 2023 – Key Tax Consultations

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

Proskauer Rose LLP

UK Tax Round Up - April 2023

Proskauer Rose LLP on

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

Hogan Lovells

New exemption from UK stamp taxes on insurance-linked securities (ILSs)

Hogan Lovells on

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

White & Case LLP

Understanding Tax: Opportunities arising from the new UK Hybrid Capital Instruments Regime

White & Case LLP on

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

Latham & Watkins LLP

HMRC Issues Further Guidance on the Taxation of Cryptoassets

Latham & Watkins LLP on

HMRC confirms that cryptoassets are not considered to be money or currency for tax purposes. On 1 November 2019, HM Revenue & Customs (HMRC) issued a policy paper on the taxation of cryptoassets for businesses and...more

Hogan Lovells

UK Financial Transaction Tax under Labour

Hogan Lovells on

Proposals to introduce financial transactions taxes in the UK and the EU have been around for a while. Although neither tax has yet come close to becoming law, political turbulence could now make this more likely. ...more

Proskauer Rose LLP

UK Tax Round Up - September 2017

Proskauer Rose LLP on

UK Tax News and Developments - Finance (No 2) Bill 2017 - The second Finance Bill of 2017, known as Finance (No 2) Bill 2017, has now been published. As expected, this contains most of the provisions which were dropped from...more

Proskauer Rose LLP

UK Tax Round Up - July 2017

Proskauer Rose LLP on

UK Tax News and Developments - Conservative legislative agenda set out in Queen's Speech - Following the UK general election on 8 June 2017, at which the Conservative party won the largest number of seats but lost its...more

Goodwin

Office of Tax Simplification Recommendations for Reform of Stamp Duty on Paper Documents

Goodwin on

On 10 July 2017 the Office of Tax Simplification (OTS), the independent adviser to the government on tax simplification, released its recommendations following its review of stamp duty on paper documents. Whilst the proposals...more

Dechert LLP

Brexit – The UK and International Tax Consequences

Dechert LLP on

The political, economic and constitutional fallout of the UK’s referendum decision to leave the European Union (Brexit) will continue for some time. In addition to considering some of the possible domestic UK tax implications...more

Akin Gump Strauss Hauer & Feld LLP

Brexit: Key Tax Implications for Alternative Investment Funds and Investment Managers

The result of the UK’s referendum of 23 June 2016 was announced today as a victory for ‘Brexit’ - in other words, for the UK to exit the European Union. This decision is expected to have significant ramifications for the...more

Akin Gump Strauss Hauer & Feld LLP

Finance Bill 2014 Published

The U.K. government has today published the final text of the 2014 Finance Bill. As discussed in our previous Alert, issued on March 19, the Finance Bill includes...more

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