Stamp duty on non-resident exchange traded funds will be scrapped following
an announcement in the pre-Budget report.
Reports suggest that chancellor Gordon Brown will say
that the stamp duty will be scrapped to bring Britain’s treatment of the funds
in line with Europe and the US, where the funds are widely traded.
The move was welcomed in the City, according to the FT, where
investment houses said that the move would boost the London’s market.
The current levy is 0.5% on fund trades.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states