STSM022240 | Scope of stamp duty on shares: stamp duty: adjudication, stamps and reliefs: Repurchases and Stock Lending

Section 80C FA1986 provides relief from Stamp Duty, subject to certain conditions, where a person (A) has entered into an arrangement with another person (B) under which B is to transfer stock to A or his nominee and stock of the same kind and amount is to be transferred by A or his nominee to B or his nominee. Any relevant instruments must be presented to HMRC to be duly stamped as not chargeable in order for the relief to be claimed.

Detailed guidance on stock lending and repurchase relief can be found from STSM042130 onwards.

Definitions

For stock lending relief purposes, certain terms (including regulated market, multilateral trading facility, and recognised foreign exchange) are defined by section 80B FA1986 – see STSM022230 for more information.