(iv) The stamp duty and／or stamp duty land tax payable by the Saturn Ltd group;

(iv) The stamp duty and/or stamp duty land tax payable by the Saturn Ltd group; (2 marks)

Additional marks will be awarded for the appropriateness of the format and presentation of the memorandum

and the effectiveness with which the information is communicated. (2 marks)

(iv) Stamp duty and stamp duty land tax– The purchase of Tethys Ltd will give rise to a liability to ad valorem stamp duty of ￡1,175 (￡235,000 x 0·5%).The stamp duty must be paid by Saturn Ltd within 30 days of the share transfer in order to avoid interes