Repo Definition

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GLOSSARY

Published by a UU��ֱ�� Tax expert

What does Repo mean?

An arrangement which involves the sale of securities and the subsequent purchase of those or similar securities and which equates, in substance, to a transaction for the lending of money at interest from or to a company with the securities which were sold as collateral for the loan.

Corporation Tax Act 2009, pt 6, ch 10 makes provisions for repo arrangements to be charged to corporation tax under the loan relationships regime, such that the tax treatment reflects the fact that the arrangement equates, in substance, to a loan transaction.

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UK prudential regime for banks and designated investment firms—timeline

UK prudential regime for banks and designated investment firms—timeline This timeline shows key developments relating to the UK prudential framework for banks and designated investment firms from January 2024 onwards. For earlier developments, see: Capital Requirements Directive IV (CRD IV) and Capital Requirements Regulation (CRR)—timeline [Archived]. 2025 Date Source Document Description 9 April 2025 PRA Significant risk transfer financing: Prudential expectations The Prudential Regulation Authority (PRA) has published a Dear CFO letter highlighting practices the PRA has observed in relation to illiquid and structured financing portfolios across regulated firms. While the principal concerns outlined in the letter are informed by supervisory information received regarding significant risk transfer (SRT) financing activities, the PRA expects firms to consider the application of the PRA’s feedback to all relevant financing portfolios. Banks engaged in these businesses should ensure that the regulatory capital approach they adopt appropriately reflects the substance of the transactions, including the liquidity of the underlying collateral. 28 March 2025 PRA FPC consultation paper: 2024 O-SII buffer framework review The Financial...

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Stock lending and repo relief from stamp duty and SDRT

Provided the strict conditions for the stock lending and repo relief from stamp duty and stamp duty reserve tax (SDRT) are satisfied: •no liability to SDRT arises on an agreement to transfer chargeable securities pursuant to a stock lending or repo transaction, and•no stamp duty arises where transfers of securities pursuant to such arrangements are effected by an instrument of transfer such as a stock transfer formThe policy reason behind this relief is that stock lending and repo transactions provide liquidity in the financial markets, for which see: Practical use of stock lending and repo transactions below.For more information on:•SDRT, see Practice Note: Stamp duty reserve tax—when it applies and•stamp duty, see Practice Note: What does stamp duty apply to?This Practice Note explains:•what stock lending and repo transactions are and the relief from stamp duty and SDRT for such transactions•the conditions which must be satisfied for the relief to apply•the clawback of the relief•the relaxation of the strict conditions where one party becomes insolvent so that the transaction does not...

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Agreement to surrender—Energy Performance Certificate clause

This clause may be inserted into the Lexis®PSL precedent: Agreement for surrender. EPC an

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Private Client weekly highlights—17 April 2025

This week’s edition of Private Client highlights includes: (1) Changizi v Changizi, where a non-exempt beneficiary’s share of estate was liable for IHT under Re Ratcliffe; (2) Argyll and Bute Council v RF (by his litigation friend, the Official Solicitor), in which the Court of Protection refuses an application for recognition and enforcement of a Scottish Guardianship order; (3) Abbasi v Newcastle upon Tyne Hospitals NHS Foundation Trust; Haastrup v King’s College Hospital NHS Foundation Trust, in which the Supreme Court held that anonymity for clinicians in withdrawal of treatment cases involving children should normally be of limited duration; (4) Companies House launches a new voluntary identity verification service; (5) Armstrong v Bhattacharya, which highlights the importance of clear, contemporaneous documentary evidence and a consistent case in circumstances where a person wishes to demonstrate that ownership of a property differs to that which is recorded at HM Land Registry; (6) Tedford v Clarke, in which the court held that although a Will was badly drafted, it was not meaningless and...

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GLOSSARY

Repo definition

What does Repo mean?

View the related checklists about Repo

UK prudential regime for banks and designated investment firms—timeline

View the related practice notes about Repo

Stock lending and repo relief from stamp duty and SDRT

View the related precedents about Repo

Agreement to surrender—Energy Performance Certificate clause

View the related News about Repo

Private Client weekly highlights—17 April 2025

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GLOSSARY

Repo definition

What does Repo mean?

View the related checklists about Repo

UK prudential regime for banks and designated investment firms—timeline

View the related practice notes about Repo

Stock lending and repo relief from stamp duty and SDRT

View the related precedents about Repo

Agreement to surrender—Energy Performance Certificate clause

View the related News about Repo

Private Client weekly highlights—17 April 2025

Call us on

Popular Links

HELP & SUPPORT

LEGAL SOLUTIONS

Policies

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