Anne Powell explains the background to the changes and their impact.
HMRC has announced a change to the reverse of the stock transfer form with effect from 6 April 2012 (although old forms may be used until 5 September 2012). It has clarified the notes on the reverse of the stock transfer form to deal better with the situation where the consideration is nil. Problems had been encountered in practice with nil value transfers. At the same time the opportunity was taken to insert an additional certificate allowing taxpayers to self-certify where an exemption from stamp duty applies but the exemption need not be claimed through the Stamp Office or where the consideration for the transfer is not chargeable consideration for stamp duty purposes. The...
