Share transfer
End of physical stamping of stock transfer forms
HMRC has decided to discontinue the practice of physically stamping documents for stamp duty purposes with effect from 19 July 2021. This brings to an end a practice that has been in place for over 300 years.
The change will affect:
- all transfers and instruments transferring stock and marketable securities
- instruments transferring interests in partnerships that hold stock or marketable securities
- instruments transferring land
- instruments executed before 1 December 2003 that have not previously been duly stamped
- the transfer of bearer instruments and the transfer of land where the contract to transfer the land was entered into on or before 10 July 2003.
HMRC introduced a new electronic procedure for the stamping of these instruments back in March 2020 due to the impact of COVID-19 and following a successful trial over the last few months have decided to continue with this virtual process. Physical stamping of documents will therefore be withdrawn.
For further information or advice please contact Janak Prajapati or your usual Crowe contact.
