STSM042220 - Exemptions and reliefs: reliefs: stamp duty group relief - bodies corporate

Bodies Corporate

The term ‘body corporate’ is not restricted to companies. ‘Body corporate’ includes companies with limited or unlimited liability, companies limited by guarantee, charter companies and bodies created by statute. Relief may be available where a local authority, being a body corporate, is a party to an instrument and the other party has a share capital which is beneficially owned by the authority.

See STSM042260 regarding foreign entities which are regarded as bodies corporate for the purposes of Stamp Duty group relief.

While there is no statutory definition of body corporate, further information, including on the factors to consider when judging whether something is a body corporate, is available at CTM00510.

Body corporate with no share capital

A body corporate which has no share capital can only be associated with another body corporate if it is that body’s parent.