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

The following Tax practice 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
  • Ad valorem stamp duty
  • Liability determined at date of execution of the instrument
  • Instrument must set out all facts relevant to stamp duty
  • Lost or spoiled instruments
  • Who is liable to pay the stamp duty?
  • More...

Coronavirus (COVID-19) impact on stamp duty process: During the coronavirus outbreak, the Stamp Office is temporarily only accepting electronic versions of instruments of transfer and/or claims for relief from stamp duty and, where stamp duty is due, only accepting electronic transfer of funds (not cheques). For more information, see Practice Note: Coronavirus (COVID-19)—tax implications—Stamp taxes. The Chartered Institute of Taxation and the Stamp Taxes Practitioners’ Group have also published comments (dated 18 June 2020 but published on 2 July 2020) providing feedback on the temporary processes for stamp taxes adopted during the coronavirus lockdown and raising uncertainties arising as a result of the temporary processes, such as whether the temporary process for stamping constitutes ‘duly stamped’ and therefore franks the SDRT charge that would otherwise apply and whether formal adjudication can occur despite the document not being impressed with an adjudication stamp.

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: The government is asking for views on the principles and design of a new framework for stamp duty and stamp duty reserve tax (SDRT) to inform a longer-term modernisation of the stamp taxes on shares (STS) framework. The call asks for views on what should be prioritised for modernisation including questions on amalgamating stamp duty with SDRT, the scope of stamp duty and SDRT, reporting and collecting STS and enforcement and

Related documents:

Popular documents