Exemptions and Reliefs: Exemptions: other non-Stamp Duty Acts that apply to stamp duty
There are several stamp duty or Stamp Duty Reserve Tax (SDRT) exemptions found in non-taxes acts, including:
- The Friendly Societies Act 1992 - any document that is required or authorised under this Act and which transfers stock or marketable securities is exempt from stamp duty; and
- The Building Societies Act 1986 - all transfers of shares in a Building Society are exempt from stamp duty.
Other similar exemptions are found in The Barracks Act 1890, the Clergy Residences Act 1776, the Chevening Estate Act 1959, The Diplomatic Privileges Act 1964, The Government Annuities Act 1929, the Highways Act 1980, the Merchant Shipping Act 1894 and the National Heritage Act 1980.
Certain documents which are exempt from duty under these provisions are not regarded as duly stamped unless they have been presented to HMRC Stamp Taxes for adjudication.
Section 12 Limited Liability Partnerships Act 2000 grants a relief from Stamp Duty for transfers by a person to an LLP in connection with its incorporation provided certain conditions are met. (See STSM022150).