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This is when the stock transfer form must be completed and sent to HMRC's stamp duty office for stamping within 30 days of the date of the transfer. The form must be accompanied by the existing share certificate and a covering letter.
Transfer BasisTax is paid on the capital gain only when the recipient sells the stock. The recipient of your transferred stock usually obtains your cost basis. However, the basis used to calculate the future capital gain of the recipient also depends upon the stock's fair market value on the gift date.
How to complete a stock transfer form in 10 Steps1 Consideration money.2 Full name of Undertaking.3 Full description of Security.4 Number or amount of Shares, Stock or other security.5 Name(s) and address of registered holder(s)6 Signature(s)7 Name(s) and address of person(s) receiving the shares.More items...?31-Jan-2019
Duty will be paid on the market value of shares or debentures. 7. Buyer will pay the stamp duty.
Stock transfer stamps were issued for the purpose of collecting federal taxes on sales, transfers, and certificates of stock. All stock transfer stamps from 1918 to 1940 are US documentary stamps that are overprinted "STOCK TRANSFER".