Clause 93 - Exemptions in relation to employee share ownership plans
Finance Bill
11:45 am
Mr Howard Flight (Arundel and South Downs, Conservative)
The clause provides an exemption from stamp duty and stamp duty reserve tax when employees buy partnership or dividend shares from an ownership trust. Why has it been included in the Bill? I understood that it was accepted practice that stamp duty, or stamp duty reserve tax, did not apply in those circumstances. Will the clause make the situation clear, or are there underlying disputes?