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This consultation follows on from the consultation published in April 2023 that sought feedback on proposals for modernising the principal 0.5% charge for Stamp Taxes on Shares. It seeks views on proposals to modernise the 1.5% higher rate charge which applies in certain circumstances when UK securities are transferred overseas, with a focus on reducing unnecessary legislation and improving clarity.

This consultation is likely to be of interest to taxpayers, investors, businesses, tax advisors, practitioners and their representative bodies, tax lawyers and their representative bodies, stockbrokers, stock traders, stock markets, clearance services, depositary receipt issuers, and anyone that is involved with or has an interest in the buying and selling of shares and securities.