Stamp Duty on a London Stock Exchange share purchase of 1,000 shares at £1.75 per share is payable at what amount (assuming standard stamp duty rate applies)?

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Prepare for the QFA Investments Exam 1. Study with flashcards and multiple-choice questions with detailed explanations. Enhance your understanding and succeed on your exam!

Multiple Choice

Stamp Duty on a London Stock Exchange share purchase of 1,000 shares at £1.75 per share is payable at what amount (assuming standard stamp duty rate applies)?

Explanation:
Stamp Duty on share purchases is charged at the rate of 0.5% of the trade value. Here, the trade value is 1,000 shares × £1.75 = £1,750. Applying 0.5% gives £1,750 × 0.005 = £8.75. So the stamp duty payable is £8.75.

Stamp Duty on share purchases is charged at the rate of 0.5% of the trade value. Here, the trade value is 1,000 shares × £1.75 = £1,750. Applying 0.5% gives £1,750 × 0.005 = £8.75. So the stamp duty payable is £8.75.

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