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Not Another Stealth Tax

John Hayward pension consultant looks at the likely impact of stamp duty land tax (SDLT) on tax-approved pension schemes
In late November 2003 the large public company XYZ Ltd finally agreed terms with ABC Ltd for a 'merger'. It would acquire ABC Ltd which would become a subsidiary company. ABC Ltd's self-administered pension scheme would now go ahead and merge with the even larger XYZ self-administered pension scheme. This would involve the ABC pension scheme becoming part of the XYZ pension scheme and its investments of £50 million or so including a portfolio of commercial property worth £6 million being transferred to the trustees of the XYZ pension scheme.
Henry Pybus for many years company secretary of a well-known public company had...
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