Stamp duty on share(s) - Probate

weimo

Hello I hope someone can help:

I am in the process of trying to transfer some shares into my name after being granted probate.

I can not work out if I have to pay stamp duty or not, from what I read anything in excess of £1000 is liable. As I have already paid inheritance tax is this correct? it seems like a double whammy?

Trying to fill this transfer form in and it requests whether stamp duty is to be paid but gives no guidance.

Thanks in advance.

pjclar02

No - the transaction is exempt from stamp duty, so you just need to complete certificate 2 on page 2 of the stock transfer form

weimo

I cannot see on the HMRC website where it gives this information, could anyone post the link please.....

Thanks

weimo

Reading the stock transfer form I'm assuming I fall in the category of 'no consideration' and write NIL

John_Pierpoint

Slightly off topic, how did you get on with the "accrued but not yet paid" interest on deposits?

I know these days the interest rate is so low that the amounts might not be material, but the banks and building societies insisted on quoting this figure gross, so that HMRC could get 40% IHT and 20% Income tax on it.
It got even more complex if the beneficiary paid tax at above the standard (20%) rate.

On the share front, I simply got the transfer form from the keeper of the register and filled in one of the half a dozen "no stamp duty" categories.