Related Commentary  Related CasesRelated HMRC Manuals

75(1)  This section applies where a company (the acquiring company) acquires the whole or part of an undertaking of another company (the target company) in pursuance of a scheme for the reconstruction of the target company.

75(2)  If the first and second conditions (as defined below) are fulfilled, stamp duty under Part I of Schedule 13 to the Finance Act 1999 (transfer on sale) shall not be chargeable on an instrument executed for the purposes of or in connection with the transfer of the undertaking or part.

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