Finance Bill — New Clause 11 — Stamp Duty Reserve Tax on Surrenders of Units in Unit Trusts — 2 Jul 2013 at 19:45
The majority of MPs voted against requiring a report on the abolition of Stamp Duty Reserve Tax on surrenders of units in collective investment schemes.
Stamp Duty Reserve Tax (SDRT) is a tax on electronic 'paperless' share transactions; currently set at a flat rate of 0.5 per cent (rounded up or down to the nearest penny) based on what you give for the shares, not what the shares are worth.
The 2013 Budget document states:
- The Government will abolish the stamp duty reserve tax charge in Schedule 19 Finance Act 1999 on surrenders of units in collective investment schemes
The majority of MPs rejected a proposal to add the following new clause to the Finance Bill:
- The Chancellor shall, within six months of Royal Assent, publish and lay before the House of Commons a report detailing the distributional impact of any changes to or abolition of Schedule 19 to the Finance Act 1999.
Votes by party, red entries are votes against the majority for that party.
What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.
What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.
What is Turnout? This is measured against the total membership of the party at the time of the vote.
|Party||Majority (No)||Minority (Aye)||Both||Turnout|
|Con||236 (+1 tell)||0||0||77.7%|
|Lab||0||194 (+2 tell)||0||76.0%|
|LDem||37 (+1 tell)||0||0||67.9%|