(This note is not part of the Regulations)
These Regulations amend Parts 3 and 4 of the Finance Act 1986 (c. 41) and the Stamp Duty and Stamp Duty Reserve Tax (Exchange Traded Funds) (Exemption) Regulations 2014 (S.I. 2014/911) to ensure the effective operation of that legislation after the withdrawal of the United Kingdom from the European Union.
Regulation 1 brings these Regulations into force on exit day. Regulation 2 adds references to the United Kingdom and Gibraltar to the Finance Act 1986 where references are already made to the European Union and European Economic Area. Regulation 3 does the same for references in the Stamp Duty and Stamp Duty Reserve Tax (Exchange Traded Funds) (Exemption) Regulations 2014.
A Tax Information and Impact Note has not been prepared for this Instrument as it contains no substantive changes to tax policy.