April 3, 2012 Update to the Stock Transfer Form
HM Revenue & Customs (HMRC) have added a new certificate to the reverse of the stock transfer form to be completed when a share transfer is ‘otherwise’ exempt from stamp duty or there is chargeable consideration provided for the transfer. HMRC has also updated its advice for completing this new certificate, which can be found here.
HMRC have introduced this change following complaints from registrars and the legal sector that the previous form did not provide enough information to allow them to properly fulfil their obligations under section 17 of the Stamp Act 1891.
The new forms will be available from 6 April 20121 and HMRC’s advice is that the new forms should be used for all tranfers on or after this date (although the old forms will be accepted until 5 September 2012).
Update: For free downloads of the J10 and J30 Stock Transfer Form, please see our guidance note here.
If you would like any assistance in this area, please get in touch with our company secretarial experts.