HC Deb 15 March 1999 vol 327 c519W
Mr. Burnett

To ask the Chancellor of the Exchequer what estimates he has made of the loss of stamp duty reserve tax on cross-border mergers and take overs for the tax year 1998–99 through United Kingdom companies creating bearer shares denominated in foreign currency which are put into a depositary or clearance system. [74126]

Ms Hewitt

The proposed measure announced on 29 January to close a Stamp Duty Reserve Tax loophole relating to cross-border takeovers and mergers by UK companies is intended to protect the revenue from shares and other securities which is provisionally estimated to be £2.6 billion in 1998–99.

Mr. Burnett

To ask the Chancellor of the Exchequer what estimate he has made of the gross yield from stamp duty reserve tax for the tax year 1998–99. [74127]

Ms Hewitt

Net receipts from stamp duty (including stamp duty reserve tax) on transactions of shares and other securities are provisionally estimated to be £2.6 billion in 1998–99.