STSM042250 - Exemptions and reliefs: reliefs: stamp duty group relief - company purchase of own shares

A purchase by a company of its own shares from one of its associated (see STSM022110) companies can qualify for relief.

Where a subsidiary company purchases some of its own shares from its parent under section 690 of the Companies Act 2006, (and section 66 FA1986 therefore applies), group relief may be available under section 42 FA1930.

This is provided that the usual conditions for relief are satisfied, including that the purchase of the shares was not part of an arrangement under section 27(3)FA1967(see STSM042270).