Stamp duty on transfers—scope, administration and enforcement
Stamp duty on transfers—scope, administration and enforcement

The following Tax guidance note provides comprehensive and up to date legal information covering:

  • Stamp duty on transfers—scope, administration and enforcement
  • HMRC guidance—Stamp Taxes on Shares Manual
  • Why is stamp duty called a voluntary tax?
  • Territorial scope
  • Administration
  • Stamp duty indemnities
  • Adjudication and appeals
  • Notification requirements—facilitating enforcement of the higher rate stamp duty charge
  • Enforcement—penalties and interest for late stamping
  • Enforcement—restricted reliance on unstamped or insufficiently stamped instrument
  • more

FORTHCOMING CHANGE on extending market value rule to transfers of unlisted securities to connected companies: Following a consultation on aligning the stamp duty and SDRT consideration rules that ran until 30 January 2019, Finance Bill 2019–20 extends, with effect from Royal Assent, the market value rule for stamp duty and SDRT purposes to transfers of unlisted securities to connected companies (ie where the transferor is (or is the nominee for a person that is) connected with the transferee company) but only where some or all of the consideration consists of the issue of shares. In its summary of responses to that consultation, HMRC confirms that, at this time, it will not be taking forward any of the other proposals made in the consultation. For more information, see News Analysis: Draft Finance Bill 2019–20—Tax analysis—Stamp taxes on securities—extension of market value rule to transfers of unlisted securities to connected companies and for more information on the original consultation, see News Analysis: Exploring the stamp taxes on shares consideration rules consultation.

This Practice Note deals with the administration and enforcement provisions for stamp duty on transfers of stock and/or marketable securities and transfers of partnership interests. The rules on administration and enforcement of bearer instrument duty are outside the scope of this Practice Note.

Before delving into the detail of the administration and enforcement