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Stamp Duty

Volume 115: debated on Friday 1 May 1987

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asked the Chancellor of the Exchequer what is the present rate of stamp duty on shares issued as a result of mergers and acquisitions; and if he will provide an estimate of the yield in 1986–87 of stamp duty at the rate of 1 per cent. on shares issued as a result of such mergers and acquisitions.

The present rate of capital duty is 1 per cent., but it does not apply if the consideration consists entirely, or almost entirely, of shares in the acquiring

Reductions ( + )/Increases ( - ) in income lax compared with 1978–79 indexed regime
£ million
Range of total income in 1987–88Number units paying tax in 1987–88 (million)1979–801980–811981–821982–831983–841984–851985–861986–871987–88
Under 5,0003·270100-290-240-20110230270340

company. I regret that the information requested on yield is not available centrally and could be obtained only at undue cost.