Revenue Note for Guidance
Certain capital companies are exempt from the charge to companies capital duty i.e.
If a company loses its status as a collective investment undertaking or as an investment company or as an investment limited partnership, within the above meanings, then companies capital duty is chargeable on any chargeable transactions which take place after the status is lost. If the company loses its status with retrospective effect companies capital duty is chargeable on all chargeable transactions which took place after the date on which it lost its status (i.e. the retrospective date).
1 Council Directive 86/611/EEC (OJ No L375 of 31 December, 1985) has been amended by Council Directive 88/220/EEC of 22 March, 1988 (OJ No L100, 19/4/1988) and European Parliament and Council Directive 95/26/EEC of 29 June, 1995 (OJ No L168, 18/7/1995).
Relevant Date: Finance Act 2014