Stamp Taxes Shares Working Together Stakeholder Group

The Stamp Taxes Shares Working Together Stakeholder Group (WTSG) is an HMRC-sponsored consultation forum between HM Revenue and Customs (HMRC), industry bodies and professional bodies representing legal, finance and tax professionals.

Membership

Organisation
British Bankers’ Association (BBA)
CIOT (Chartered Institute of Taxation)
Euroclear
HSBC Bank plc
ICSA
Investment Management Association
The Law Society of England and Wales
The Law Society of Scotland
MSP Secretaries Limited
Stamp Taxes Practitioners Group
Wealth Management Association (WMA)

Terms of reference

Objectives

1.1 to achieve an increase in transparency for customers and their representatives in understanding HMRC’s aims and operational process in relation to stamp taxes.

1.2 to increase HMRC’s understanding of the needs of industry bodies and professional bodies, representing, legal, finance and tax professionals in relation to the operation of the tax system.

1.3 to raise, discuss and resolve significant operational issues to the benefit of stamp taxes.

1.4 to jointly seek solutions that will improve cooperation in operating the tax system in relation to industry bodies and professional bodies representing conveyancers, legal, finance and tax professionals.

Membership

2.1 HMRC will provide the chair and secretariat.

2.2 The external membership of the Stamp Taxes Shares WTSG will comprise representatives of industry bodies and professional bodies representing, legal, finance and tax professionals. (see list for current member bodies).

2.3 The chair may periodically, review the balance and composition of the Stamp Taxes Shares WTSG to ensure it meets the goals and objectives of the group.

Meetings

3.1 Meetings will usually take place every 6 months.

3.2 A draft record of meetings will be issued to attendees for consideration within 2 months of each meeting, allowing ten working days thereafter for any responses.

3.3 A final record of meetings, including attendees, will be published on this forum. Older minutes are available on the HMRC internet site.

3.4 Agenda items for forthcoming meetings will be commissioned four weeks in advance, allowing members two weeks to suggest items for inclusion.

3.5 Final agendas will be issued one week before the date of a meeting. All pre-reading will be supplied a minimum of 2 days before the meeting.

3.6 The timing and length of meetings will be flexible, taking account of the agenda and of members’ views.