Part I [Transfer] on Sale
Finance Act 1999 (1999 c 16) | Legislation

SCHEDULE 13 Stamp Duty: Instruments Chargeable and Rates of Duty

Section 112(3)

Part I [Transfer] on Sale

Charge

1

(1)     Stamp duty is chargeable on a [transfer] on sale.

(2)     For this purpose “[transfer on sale]†includes every instrument, and every decree or order of a court or commissioners, by which any property, or any estate or interest in property, is, on being sold, transferred to or vested in the purchaser or another person on behalf of or at the direction of the purchaser.

[(3)     Sub-paragraph (1) is subject to sub-paragraphs [(3A)] to (6).

[(3A)     Stamp duty is not chargeable under sub-paragraph (1) on a transfer of stock or marketable securities where—

(a)     the amount or value of the consideration for the sale is £1,000 or under, and

(b)     the instrument is certified at £1,000.]

(4)     Where a company acquires any shares in itself by virtue of section [690] of the Companies Act [2006] (power of company to purchase own shares) or otherwise, sub-paragraph (1) does not apply to any instrument by which the shares are transferred to the company.

(5)     Where a company holds any shares in itself by virtue of section [724] of that Act (treasury

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