Section 86 The tax: introduction

United Kingdom

(1)

A tax, to be known as stamp duty reserve tax, shall be charged in accordance with this Part of this Act.

(2)

The tax shall be under the care and management of the Board.

(3)

Section 1 of the Provisional Collection of Taxes Act 1968 M1 shall apply to the tax; and accordingly in subsection (1) of that section after the words “petroleum revenue tax” there shall be inserted the words “ stamp duty reserve tax ”.

(4)

F1Stamp duty reserve tax shall be chargeable in accordance with the provisions of this Part of this Act—

(a)

whether the agreement, transfer, issue or appropriation in question is made or effected in the United Kingdom or elsewhere, and

(b)

whether or not any party is resident or situate in any part of the United Kingdom.

Annotations

Textual amendments

F1: S. 86(4) added (with effect as mentioned in s. 187(2) of the amending Act) by Finance Act 1996 (c. 8), s. 187(1)

Marginal citations

M1: 1968 c. 2.