§ Mr. DykesTo ask the Chancellor of the Exchequer what is the total revenue gathered from stamp duty reserve tax on American depositary receipts issued on behalf of United Kingdom companies.
§ Mr. NelsonThe 1.5 per cent. rate of stamp duty and stamp duty reserve tax applies to transfers of shares either into a depositary receipt scheme or into a clearance service system. The total yield from the 1.5 per cent. rate is estimated at around £20 million. Precise information is not available about the proportion attributable to.transfers into American depositary receipt schemes, as distinct from other depositary receipt schemes or clearance services.