Conveyance or transfer on sale of shares and securities

(FA 1999, Sch. 13, para. 3; FA 1986, s. 67(3))

Instrument(1)(2)(3)(4)(5)

Rate of tax %

Stock transfer

0.5

Conversion of shares into depositary receipts

1.5

Takeovers and mergers

0.5

Purchase by company of own shares

0.5

Letters of allotment

0.5

Notes

(1)Stamp duty is rounded up to the nearest multiple of £5 (FA 1999, s. 112).

(2)Loan capital is generally exempt from transfer-on-sale duty subject to specific exclusions (designed to prevent exemption from applying to quasi-equity securities) (FA 1986, s. 79).

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