BT 2000 Annual Report Download - page 123
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Please find page 123 of the 2000 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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UK stamp duty
A transfer for value of an ordinary share will generally be subject to UK stamp duty or to UK stamp duty reserve tax.
No UK stamp duty will be payable on the transfer of an ADS, provided that the separate instrument of transfer is not
executed in, and always remains outside, the UK.
Inheritance and gift taxes
US-domiciled holders of ordinary shares and ADSs generally will not be subject to UK inheritance tax on a gift of ordinary
shares and/or ADSs if the gift would be subject to US federal gift tax. Similarly, ordinary shares and/or ADSs passing on
the death of a US-domiciled shareholder generally will not be subject to UK inheritance tax if the estate would be subject
to US estate tax.
Exchange controls and other limitations affecting security holders
There are currently no government laws, decrees or regulations in the United Kingdom that restrict the export or import of
capital, including, but not limited to, UK foreign exchange control restrictions, or that a¡ect the remittances of dividends or
other payments to non-resident holders of the company's ordinary shares, except as otherwise described in Taxation
(US Holders) above and except in respect of the government of, or any resident of, Iraq or any person treated as so resident
or in respect of the governments of the Federal Republic of Yugoslavia, and of Serbia. There are no limitations under the
laws of the United Kingdom restricting the right of non-residents to hold or to vote shares in the company.
Additional information for shareholders
122 Annual report and Form 20-F