Related Commentary  Related HMRC Manuals

87(1)  This section applies where a person (A) agrees with another person (B) to transfer chargeable securities (whether or not to B) for consideration in money or money’s worth.

87(2)  There shall be a charge to stamp duty reserve tax under this section on the relevant day.

87(3)  In subsection (2) above “the relevant day”  means–

(a)in a case where the agreement is conditional, the day on which the condition is satisfied, and

(b)in any other case, the day on which the agreement is made.

87(4), (5)  [Repealed by FA 1996, s. 192(1), 205 and Sch. 41, Pt. VII.]

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