Q&As

On a wait and see application, when the stock transfer forms are provisionally stamped, can you update the register of members or do you need to wait until the final stamping of the stock transfer forms?

read titleRead full title
Published on LexisPSL on 02/02/2017

The following Corporate Q&A provides comprehensive and up to date legal information covering:

  • On a wait and see application, when the stock transfer forms are provisionally stamped, can you update the register of members or do you need to wait until the final stamping of the stock transfer forms?

On a wait and see application, when the stock transfer forms are provisionally stamped, can you update the register of members or do you need to wait until the final stamping of the stock transfer forms?

See Practice Note: Stamp duty and SDRT on the sale of certificated registered UK shares which states:

In a completion accounts deal, the buyer should:

  1. enter an estimate of what the final consideration is likely to be in the consideration box of the stock transfer form

  2. submit the stock transfer form to HMRC to be provisionally stamped on the basis of this estimate, and

  3. submit an undertaking to HMRC that it will, if the final price exceeds the estimate, pay the additional amount of stamp duty and any interest on the underpayment and resubmit the stock transfer form for final stamping (likewise, if the

Related documents:

Popular documents