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Questions and Answers
In which of the following cases is stamp duty not paid?
In which of the following cases is stamp duty not paid?
- Where the shares are transferred between spouses
- Where there is no monetary consideration (correct)
- Where the transaction forms part of a larger transaction or series of transactions
- Where the consideration for the transaction exceeds £1,000
Which of the following types of shares is exempt from stamp duty?
Which of the following types of shares is exempt from stamp duty?
- Shares transmitted following the death of a shareholder
- Shares traded on stock exchanges for larger companies
- Shares transferred between subsidiaries of a large company
- Shares traded on stock exchanges for smaller companies (correct)
What is required when transferring shares between nominees or declarations of trust?
What is required when transferring shares between nominees or declarations of trust?
- Confirmation that the transaction does not form part of a larger transaction or series of transactions (correct)
- Approval from the stamp office
- Payment of stamp duty
- Notification to the stock exchange
Which of the following is an example of a transaction that does not form part of a larger transaction or series of transactions?
Which of the following is an example of a transaction that does not form part of a larger transaction or series of transactions?
What provision allows parent companies to exempt the transfer of shares from stamp duty?
What provision allows parent companies to exempt the transfer of shares from stamp duty?
Which of the following types of shares is not exempt from stamp duty?
Which of the following types of shares is not exempt from stamp duty?
What is the primary purpose of stamp duty reserve tax?
What is the primary purpose of stamp duty reserve tax?
What is the result of a transfer of shares in terms of stamp duty?
What is the result of a transfer of shares in terms of stamp duty?
Which of the following is an exemption from stamp duty?
Which of the following is an exemption from stamp duty?
What is the outcome of a change in trustee or the transfer of shares from an estate to beneficiaries?
What is the outcome of a change in trustee or the transfer of shares from an estate to beneficiaries?
What is the main difference between stamp duty and stamp duty reserve tax?
What is the main difference between stamp duty and stamp duty reserve tax?
What type of transfer is exempt from stamp duty due to the absence of monetary consideration?
What type of transfer is exempt from stamp duty due to the absence of monetary consideration?
At what rate is the tax charged in the UK?
At what rate is the tax charged in the UK?
When does liability arise for a conditional agreement?
When does liability arise for a conditional agreement?
What is the basis of settlement within CREST?
What is the basis of settlement within CREST?
What is the consequence of late payment of the tax?
What is the consequence of late payment of the tax?
What is the purpose of CREST?
What is the purpose of CREST?
What is the due date for payment of the tax?
What is the due date for payment of the tax?
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