HMRC consultation: Stamp taxes on shares consideration rules
Released 7 November 2018
HMRC have published a consultation inviting views on the impacts of extending the market value rule and aligning the Stamp Duty and SDRT consideration rules.
Stamp taxes on shares consideration rules consultation, announced at Budget 2018, seeks views on changes to the Stamp Duty and Stamp Duty Reserve Tax (SDRT) consideration rules. There are three elements to the consultation.
•The impacts of extending the market value rule, introduced in Finance Bill 2018-19, to unlisted securities and connected party transfers other than to companies. The Government is not considering extending the rule to unconnected party transactions.
•The impacts of aligning the Stamp Duty and SDRT definitions of ‘consideration’ by adopting the SDRT ‘money or money’s worth’ definition.
•The impacts of aligning the Stamp Duty and SDRT treatment of contingent, uncertain and unascertainable payments, and the most practical way of doing so.
The consultation closes at 11:45pm on 30 January 2019. Responses can be submitted by email to: firstname.lastname@example.org or by writing to:
HM Revenue and Customs
Stamp Taxes Policy Team, Room 3/63,
100 Parliament Street,
London SW1A 2BQ