Changes To Stamp Duty Payments & Stock Transfer Forms

HMRC have put measures in place to change the way they deal with Stamp Duty payments and stock transfer forms. 

This comes as they take more efforts to stop the spread of coronavirus.


How To Submit The Information To HMRC


The main change that they are making is the way that you submit your information to HMRC.

  1. HMRC now requires you to give details about the Stamp Duty you have paid on shares transactions, and submit a stock transfer form by email.
  2. You must now also pay your Stamp Duty electronically using Faster Payment, Bacs or CHAPS and follow this up with an email to HMRC with details of the transaction.
  3. You must also email HMRC at: stampdutymailbox@hmrc.gov.uk if you need to get in touch with them in regards to Stamp Duty for shares and land.

Your Follow Up Email Must Include

There are key pieces of information that you must not forget when sending in your follow up email:

  • The payment reference.
  • The payment amount.
  • The date of payment.


You must also include an electronic copy of the following:

  • Your signed and dated stock transfer form.
  • Your instrument of transfer
  • Your SH03 form for return of purchase of your own shares.

This information can be a scanned PDF.

Remember you are no longer allowed to send this information by post, and HMRC will accept e-signatures while coronavirus measures are in place.


Further Details That HMRC Require

If your stock transfer form or instrument does not include all of the required information listed above you’ll need to provide further details to HMRC.

These are the details that HMRC need to know:

  • name of the company whose shares are being transferred.
  • shares being transferred including date of transfer
  • parties to the transaction
  • Amount of consideration.

All Changes Are Temporary


It’s not known how long these changes will be enforced for, but the guidance will be updated when these temporary measures end.

HMRC have said that these changes are only temporary, but that for now they are trying to create a more remote working environment to ensure the safety of those in the department.

It’s important not to get this type of Stamp Duty confused with paying Stamp Duty Reserve Tax, which is paid on the paperless purchase of shares, or Stamp Duty Land Tax when a property is bought or transferred.

HMRC have said that they will contact people by email if they have any questions, however if all goes smoothly, they will issue confirmation letters by email. No stock transfer forms are currently being stamped.

 

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