Paragraph 116A Exemptions from stamp duty and stamp duty reserve taxF1

United Kingdom

Where, under an approved employee share ownership plan, partnership shares or dividend shares are transferred by the trustees to an employee—

(a)

no ad valorem stamp duty is chargeable on any instrument by which the transfer is made, and

(b)

no stamp duty reserve tax is chargeable on any agreement by the trustees to make the transfer.

Annotations

F1: Section S. 116A inserted (11.5.2001 with effect as mentioned in s. 95(3) of the amending Act) by 2001 c. 9, S. 95

F1: Sch. 8 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)