Part IV

Stamp Duty Reserve Tax

Introduction

The tax: introduction
86
1
A tax, to be known as stamp duty reserve tax, shall be charged in accordance with this Part of this Act.
2
The tax shall be under the care and management of the Board.
3
Section 1 of the Provisional Collection of Taxes Act 1968 shall apply to the tax; and accordingly in subsection (1) of that section after the words “petroleum revenue tax” there shall be inserted the words “ stamp duty reserve tax ”.
4
Stamp duty reserve tax shall be chargeable in accordance with the provisions of this Part of this Act—
a
whether the agreement, transfer, issue or appropriation in question is made or effected in the United Kingdom or elsewhere, and
b
whether or not any party is resident or situate in any part of the United Kingdom.
1968 c. 2.
S. 86(4) added (with effect as mentioned in s. 187(2) of the amending Act) by Finance Act 1996 (c. 8), s. 187(1)
Pt. 4: construed as one with 1999 c. 16, Pt. VI (27.7.1999) by Finance Act 1999 (c. 16), s. 123(1)
Pt. 4: power to restrict conferred (27.7.1999) by Finance Act 1999 (c. 16), s. 119 (with s. 123(4))
Pt. 4: power to extend conferred (1.5.1995) by Finance Act 1995 (c. 4), s. 152(2)(b)(6)
Pt. 4: 2019 c. 1, s. 48 construed as one with this Part (with effect in accordance with s. 48(12) of the amending Act) by Finance Act 2019 (c. 1), s. 48(11)
Pt. 4: 2019 c. 1, s. 48A construed as one with this Part by 2019 c. 1, s. 48A(9) (as inserted (22.7.2020) by Finance Act 2020 (c. 14), s. 78)