Stamp duty on transferring shares?

Dora57
Dora57 Posts: 2 Newbie
in Savings & investments
Hi, apologies for some financial ignorance....I was wondering if anyone knew if there is a stamp duty to be paid on transferring shares to another person?

I have some shares I want to transfer to my adult (over 18) daughter, and I was wondering if there is any tax or stamp duty to be paid on such a transfer? (the amount is under the capital gains limit).

I have extensively search on HMRC website but I can only find information about selling shares, not transferring them to another person (not spouse).

Thank you in advance to anyone who can help! This is my first post :)

Comments

  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    First Anniversary First Post Combo Breaker
    Dora57 wrote: »
    Hi, apologies for some financial ignorance....I was wondering if anyone knew if there is a stamp duty to be paid on transferring shares to another person?

    Only if the transfer has a "chargeable consideration".

    https://www.gov.uk/stamp-duty-reliefs-and-exemptions-on-paper-shares

    If it's an outright gift, then no stamp duty, but you will have to complete a crest form. Good luck working out which box to tick as it took me ages!

    It's worth writing a one page letter explaining that the shares are a gift and confirming value of date of transfer for CGT calcs down the line.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • Dora57
    Dora57 Posts: 2 Newbie
    gadgetmind wrote: »
    Only if the transfer has a "chargeable consideration".



    If it's an outright gift, then no stamp duty, but you will have to complete a crest form. Good luck working out which box to tick as it took me ages!

    It's worth writing a one page letter explaining that the shares are a gift and confirming value of date of transfer for CGT calcs down the line.

    Thanks gadgetmind! That is great help. Thank you for the great guidance. I shall pour over this information and hopefully tick the right box!

    Thanks again
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