Consultation outcome

Technical consultation: Stamp Duty Reserve Tax and Stamp Duty - Deep In The Money Options (DITMOs)

• From: HM Revenue & Customs
• Published: 9 December 2015

This consultation has concluded

Detail of outcome

Having consulted, the government was satisfied that the legislation would work as intended.

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Original consultation

Summary

Technical consultation on Stamp Duty Reserve Tax and Stamp Duty amendments.

This consultation ran from
1pm on 9 December 2015 to 11:45pm on 3 February 2016

Consultation description

This consultation seeks comments on draft legislation to stop avoidance of stamp tax where ‘deep in the money’ options are used to transfer shares to a depositary receipt issuer or clearance service.

This technical consultation will be of interest to businesses or individuals who enter into option contracts over UK securities or are involved with the business of issuing depositary receipts or providing clearance services.

HMRC has published draft legislation, together with a Tax Information and Impact Note, for a period of technical consultation which will close on 3 February 2016.

Documents

Stamp Duty and Stamp Duty Reserve Tax: Deep In The Money Options - Technical consultation document

PDF, 75.3 KB, 3 pages

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Published 9 December 2015