.png)
.png)
Stamp it out!
KEY POINTS
- Finance Act 1986 s 77A is an anti-avoidance provision limiting stamp duty relief in s 77.
- The legislation has a wide effect causing considerable collateral damage.
- Parties to commercial transactions may have to take complex steps to avoid the charge.
- HMRC should clarify the avoidance s 77A is targeting.
In late June 2016 a 43-page document was published containing the committee stage amendments and new clauses for Finance Bill 2016. There was little time to read the measures let alone comment on them before they became law on 29 June 2016. So much for the promised process that all new legislation would be subjected to proper consultation: 2010 seems a long time ago.
One of the new clauses introduced a new s 77A into FA 1986 to modify the...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
