Exempt Share Transfers

DRS · Postby **DRS** » Tue Jul 15, 2003 3:46 am

If shareholders in a parent company wish to swap their shares with the shares held by the parent in a wholly owned subsidiary, is such a transaction exempt from stamp duty and, if so, do the stamp office need to be notified?

Ian McTernan CTA · Postby **Ian McTernan CTA** » Tue Jul 15, 2003 3:55 am

More importantly, this is a transaction in securities and you may wish to apply for clearance from the appropriate Revenue branch. Your advisers should be handling this deal for you and should be able to fully advise on this (solicitor and tax adviser or accountant).

Ian McTernan CTA
Mcternan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com

paulc · Postby **paulc** » Tue Jul 15, 2003 8:25 am

I am not quite sure I understand what you are trying to achieve - could you clarify? Are you trying to transfer a subsidiary from the parent company to the shareholders, if so there are a number of company law issues and other tax issues as well as stamp duty. Or are you trying to insert a new holding company, in which case a stamp duty exemption may be available.

Paul

DRS · Postby **DRS** » Wed Jul 16, 2003 2:41 am

Replying to Paul

You are correct that I am trying to transfer a subsidiary from the parent company to the shareholders.

DRS