SCHEDULES

SCHEDULE 32Stamp duty: abolition of fixed duty on certain instruments

Part 1Abolition of fixed duty

FA 1999

10

1

Schedule 13 (instruments chargeable to stamp duty and rates of duty) is amended as follows.

2

In paragraph 1(5) (treasury shares), for the words from “any instrument” to the end substitute “ sub-paragraph (1) does not apply to any instrument to which sub-paragraph (6) applies. ”

3

In Part 3 (other instruments chargeable to stamp duty and rates of duty) omit—

a

paragraph 16 (fixed duty on transfer otherwise than on sale) and the heading before it,

b

paragraph 17 (fixed duty on declaration of use or trust) and the heading before it,

c

paragraph 18(2) (fixed duty on disposition of certain property in Scotland),

d

paragraph 19(1) (fixed duty on duplicate or counterpart),

e

paragraph 21(3) (fixed duty on partition or division),

f

paragraph 22 (fixed duty on release or renunciation) and the heading before it, and

g

paragraph 23 (fixed duty on surrender) and the heading before it.