Lydia Challen (Allen & Overy) reviews the provisions of the European Union (Withdrawal) Bill and explains how they apply to tax.
HMRC is consulting until 3 February 2016 on draft legislation for Finance Bill 2016 which seeks to counter avoidance arising on the transfer of shares using ‘deep in the money’ options (DITMOs) by charging the 1.5% higher rate of stamp duty or SDRT on the higher of the market value or the option
Ashley Greenbank (Macfarlanes) examines the draft regulations issued following the Autumn Statement announcement to prevent the use of cancellation schemes as a means of reducing stamp duty and SDRT costs on takeovers
As announced in the Autumn Statement, the government has published draft regulations (The Companies Act 2006 (Amendment of Part 17) Regulations, SI 2015/Draft) to prevent companies avoiding stamp taxes by carrying out takeovers using cancellation schemes of arrangement.
Toby Price and Martin Walker (Deloitte) consider the potential stamp tax traps arising on IPOs, including pre-IPO reorganisations and overallotment (or greenshoe) options, as well as offering practical solutions