http://www.legislation.gov.uk/ukpga/2000/17/section/123Finance Act 2000An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.texttext/xmlenStatute Law Database2026-04-16Expert Participation2026-04-07 Part IV Stamp duty and Stamp duty reserve tax Stamp duty Transfer of property between associated companies: Great Britain.1231Amend section 42 of the Finance Act 1930 as follows.2In subsection (2) (instruments on which stamp duty not chargeable) in paragraph (a) for “to another" substitute “ (“the transferor”) to another (“the transferee”) ”.3In that subsection, after paragraph (b) insert— “ unless at the time the instrument is executed arrangements are in existence by virtue of which at that or some later time any person has or could obtain, or any persons together have or could obtain, control of the transferee but not of the transferor. ”.4In subsection (2B) (body to be parent of another if beneficial owner of 75% of ordinary share capital) after “if at that time the first body" insert “ (a) ” and at the end of the subsection add—bis beneficially entitled to not less than 75 per cent of any profits available for distribution to equity holders of the second body; andcwould be beneficially entitled to not less than 75 per cent of any assets of the second body available for distribution to its equity holders on a winding-up..5In subsection (3)—aafter “The ownership referred to in" insert “ paragraph (a) of ”; andbfor “this section" substitute “ that paragraph ”.6At the end of the section add—5Schedule 18 to the Income and Corporation Taxes Act 1988 shall apply for the purposes of paragraphs (b) and (c) of subsection (2B) as it applies for the purposes of paragraphs (a) and (b) of section 413(7) of that Act; but this is subject to subsection (6).6In determining for the purposes of this section whether a body corporate is the parent of the transferor, paragraphs 5(3) and 5B to 5E of Schedule 18 to the Income and Corporation Taxes Act 1988 shall not apply for the purposes of paragraph (b) or (c) of subsection (2B).7In this section, “control” shall be construed in accordance with section 840 of the Income and Corporation Taxes Act 1988..7This section has effect in relation to instruments executed after the day on which this Act is passed.1930 c. 28. 1988 c. 1. 1988 c. 1.