HMRC has issued guidance Stamp duty and SDRT: transfer schemes of arrangement (www.bit.ly/1CsgQIO) on the amending Companies Act regulations (SI 2015/472) which took effect from 4 March 2015 to prevent target companies in takeovers using share cancellation schemes of arrangement. The regulations now require companies to use a transfer scheme or a contractual offer, on which stamp duty or SDRT is payable.
HMRC has issued guidance Stamp duty and SDRT: transfer schemes of arrangement (www.bit.ly/1CsgQIO) on the amending Companies Act regulations (SI 2015/472) which took effect from 4 March 2015 to prevent target companies in takeovers using share cancellation schemes of arrangement. The regulations now require companies to use a transfer scheme or a contractual offer, on which stamp duty or SDRT is payable.
