Policy paper

Stamp Duty and Stamp Duty Reserve Tax: deep in the money option

This legislation will apply to options which are entered into on or after 25 November 2015 and exercised on or after 23 March 2016.

Documents

Tax information and impact note on Stamp Duty and Stamp Duty Reserve Tax: deep In the money options

Draft legislation for Stamp Duty

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Explanatory note for Stamp Duty

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Draft legislation for Stamp Duty Reserve Tax

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Explanatory note for Stamp Duty Reserve Tax

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Details

This legislation will change the Stamp Duty and Stamp Duty Reserve Tax rules so that shares transferred to a clearance service or depositary receipt issuer as a result of the exercise of an option will be charged the 1.5% higher rate of stamp tax based on either their market value or the option strike price, whichever is higher.

Published 16 March 2016