Stamp Duty and Stamp Duty Reserve Tax: deep in the money option
This legislation will apply to options which are entered into on or after 25 November 2015 and exercised on or after 23 March 2016.
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This legislation will change the Stamp Duty and Stamp Duty Reserve Tax rules so that shares transferred to a clearance service or depositary receipt issuer as a result of the exercise of an option will be charged the 1.5% higher rate of stamp tax based on either their market value or the option strike price, whichever is higher.