Finance Act 1999 (c. 16)

SCHEDULES

SCHEDULE 19 Stamp duty and stamp duty reserve tax: unit trusts

Part I Abolition of stamp duty on transfers etc. of units in unit trusts

1 (1) No stamp duty is chargeable on a transfer or other instrument relating to a unit under a unit trust scheme.

(2) Sub-paragraph (1) does not affect any charge to stamp duty—

(a) on a conveyance or transfer on sale of property other than units under a unit trust scheme in relation to which such units form the whole or part of the consideration, or

(b) under Schedule 15 to this Act (bearer instruments).

(3) This paragraph has effect in relation to instruments executed on or after 6th February 2000.