HMRC

0.5% Stamp Tax on UK shares – consultation response

Abolish Stamp Duty Tax or reduce it to 0.05%  In a short, 4-page response, to the HMRC Consultation, we re-emphasised the points we made in our 2020 consultation response. Our key points were:   This consultation is fundamentally flawed. It does not discuss the rate of taxation on UK shares, which is currently 0.5% and is hugely uncompetitive with the US, which is the largest securities market in the world.  Our analysis is that:    The original rationale for stamp duty (cost of wax seal ...

This is Money, 29 September 2021, Payments provider Wise comes under pressure to beef up its board after founder’s tax dispute

ShareSoc's director Cliff Weight was quoted in this article in This is Money: Cliff Weight, of independent investor group Sharesoc, said: ‘It’s the law in this country to pay your taxes, and anyone who doesn’t follow that should not be the director of a business.’

Stamp Duty review: ShareSoc-UKSA submit joint response to HMRC

A ShareSoc News Item written by Cliff Weight, ShareSoc Policy Director. We have today, 13 Oct 2020, submitted this response to HMRC. Our response is limited to Stamp Duty on shares and OEICS (unit trusts). Our analysis is that: The original rationale for stamp duty (cost of wax seal etc) is not just of historical interest. In this age of electronic transactions, these costs are no longer incurred and there is therefore the original justification for the charge is no longer valid. Stamp Duty ...

Capital Gains Tax review: ShareSoc-UKSA submit joint response to Office of Tax Simplification

A ShareSoc News Item written by Cliff Weight, ShareSoc Policy Director. We have today, 12 Oct 2020, submitted this response to the OTS, CGT-call for Evidence.  Our response is limited to CGT on shares and OEICS (unit trusts). Our analysis is that: CGT is complex. CGT needs to be simplified. CGT is unfair to individual investors in shares versus collectives. CGT inhibits effective risk management. We want to make CGT: Fairer Easier to work out Easier to administer Easier to collect. In detail, we have 3 ...

Pension Protection – It’s Easy

The question of whether to apply to HMRC for “Pension Protection” is something that investors might wish to consider. With the Chancellor’s Autumn Statement coming up on Wednesday (23rd...