PARLIAMENTARY WRITTEN QUESTION
Shares: Taxation (30 August 2024)
Question Asked
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of implementing a share buyback tax.
Asked by:
Manuela Perteghella (Liberal Democrat)
Asked by:
Manuela Perteghella (Liberal Democrat)
Answer
Share buybacks are already subject to taxation in the form of Stamp Taxes on Shares (STS), which raise important revenue – up to £4.4bn per year – that helps to fund our public services.
There are also rules in place to ensure that any returns that arise to shareholders as part of a buyback are treated consistently with the policies and principles that underpin the broader tax system.
The Government keeps all taxes under review.
Answered by:
James Murray (Labour)
9 September 2024
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