Policy paper

Stamp duty and stamp duty reserve tax: specifying a market as a recognised foreign exchange and a recognised foreign options exchange

This Tax Information and Impact Note will specify BX Swiss AG as a ‘recognised foreign exchange' and as a ‘recognised foreign options exchange’.

• From: HM Revenue & Customs
• Published: 18 November 2014

Documents

Stamp duty and stamp duty reserve tax: specifying a market as a recognised foreign exchange and a recognised foreign options exchange

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Details

The measure concerns transfers of UK securities that are traded on an exchange operating within the European Economic Area (EEA) and can be relieved from both stamp duty and SDRT if the ‘purchaser’ is a member of that exchange and is formally recognised as an intermediary in accordance with arrangements approved by HM Revenue and Customs (HMRC). A member of a non-EEA exchange can apply to be formally recognised as an intermediary and obtain the relief, provided the exchange is specified in regulations as a ‘recognised foreign exchange’.

Published 18 November 2014