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  • Tax Memo - Stamp taxes - Stamp duty - General principles - Exemptions - Authorised Contractual Scheme - Intermediaries - 92105
    Relief is available for stock transfers to a member of a regulated market, multilateral trading facility, or recognised foreign exchange on which stock of that kind is regularly traded, or to an intermediary who is recognised as such by the market, facility or exchange. There is an equivalent relief from SDRT (¶93095). 1. For this purpose an intermediary is defined as a person who carries on a bona fide business of dealing in stock and does not carry on an excluded business. 2. An excluded business: - consists...
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  • Tax Memo - Stamp taxes - Stamp duty reserve tax - The principal charge - Exemptions - Intermediaries - 93095
    Certain transactions undertaken by market makers, known as “intermediaries”, who provide liquidity in financial markets by being available to buy securities from individuals and other professional corporate bodies, are exempt from the principal SDRT charge, provided that certain conditions are met. Relief is available for transfers of stock and options to intermediaries where: - they are a member of a regulated market, multilateral trading facility, or recognised foreign exchange on which stock of that...
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