Stamp duty and stamp duty reserve tax transfers
A number of new regulations have come into force exempting certain transfers from stamp duty and stamp duty reserve tax.
The five new regulations relate to the following:
- Certain transfers of, or agreements to transfer, traded securities made in the course of trading in those securities over the counter. Over the counter transactions are those that may have been made by two persons directly (whether or not through brokers) or arranged on behalf of the buyer and seller of the traded securities (whether or not on an anonymous basis).
- Certain transfers of, or agreements to transfer, traded securities made in the course of trading in those securities on the Turquoise MTF, a multilateral trading facility operated by Turquoise Services Limited.
- Certain transfers of, or agreements to transfer, traded securities made in the course of trading in those securities on the Chi-X Europe MTF, a multilateral trading facility operated by Chi-X Europe Limited.
- Certain transfers of, or agreements to transfer, traded securities made in the course of trading in those securities on the BATS MTF, a multilateral trading facility operated by BATS Trading Limited.
- Certain transfers of, or agreements to transfer, traded securities made in the course of trading in those securities on the Frankfurt Stock Exchange, a regulated market operated by Deutsche Borse AG, and the Open Market, a multilateral trading facility operated by Deutsche Borse AG.