Stamp Duty

Treasury written question – answered on 15th October 2001.

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Photo of Mr Howard Flight Mr Howard Flight Conservative, Arundel and South Downs

To ask the Chancellor of the Exchequer what the (a) amount of stamp duty revenue collected was in accordance with the provisions of SI 1997/1156, on the transfer of units in unit trusts and shares in open ended investment companies in the 12 months up to 5 February 2000; and (b) amount of stamp duty reserve tax collected, in accordance with the provisions of Schedule 19 to the Finance Act 1999 and SI 1997/1156, as amended by SI 1999/3261, on the surrender of units in unit trusts and shares in open ended investment companies in the 12 months from 6 February 2000.

Photo of Ruth Kelly Ruth Kelly Economic Secretary, HM Treasury

The total net duty on the transfer of units in unit trusts and shares in open ended investment companies is estimated at £43 million in the 12 months up to the end of January 2000 and amounted to £40 million in the 12 months up to the end of January 2001. A further breakdown into payments and repayments and stamp duty and stamp duty reserve tax is given in the table.

£ million
Payments Repayments
February 1999 to January 2000
Stamp Duty 96.0 (6)53.4
Stamp Duty Reserve
February 2000 to January 2001
Stamp Duty 13.7 11.3
Stamp Duty Reserve 38.1 0.2

(6) Estimated from available data for 10 months of the period

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