Speed Read: It is more common now for a company to be purchased without debt refinancing. This presents fresh worries over stamp duty arising out of arrangements made in respect of the company's debt. There are some practical measures that can be taken to mitigate the risk of excessive stamp duty costs. But it is questionable whether the legislation can impose significant stamp duty on a £1 share purchase. The archaic origins of Stamp Act 1891 s 57 prompt this alternative interpretation.
