HMRC Tax: Change on HMRC Tax Code about Acquisition of Own Shares of a Company

HMRC (HM Revenue and Customs), the administration responsible for collecting tax in the UK for the British Government issued a change about the stamp duty which was payable upon a company's buying of its own shares from an overseas branch register.

Currently, a company pays 0.5% stamp duty on acquisition of its own shares from an overseas branch register. After the announcement of HMRC the acquisition of own shares from an overseas branch register is not subject to stamp duty anymore, and taxpayers may now claim for a refund for those duties paid in last 2 years. For a taxpayer to make a claim, the original papers proving the payment needs to be given to the HMRC.

Read more about UK Tax.