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Transfer to my son.
copthis1
Posts: 76 Forumite
I have been paying £25 into a Invesco Perpetual Childrens ACC shares fund since my son was very young. He has now turned 18 and working, so I am going to transfer it into his name.
On the transfer form it mentions SDRT (Stamp Duty Reserve Tax) and you have to declare by ticking two boxes that 1, the transfer is not for consideration in money or moneys worth and is exempt from SDRT and 2, that the ttransfer is exempt from SDRT by virtue of paragraphs 6(3) - 6(5) of schedule 19 to the Finance act.
Simple question, do I tick these boxes?
Many thanks.
On the transfer form it mentions SDRT (Stamp Duty Reserve Tax) and you have to declare by ticking two boxes that 1, the transfer is not for consideration in money or moneys worth and is exempt from SDRT and 2, that the ttransfer is exempt from SDRT by virtue of paragraphs 6(3) - 6(5) of schedule 19 to the Finance act.
Simple question, do I tick these boxes?
Many thanks.
0
Comments
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Only tick the first box.
The second is to do with transfers to charities and such like. This doesn't apply to you and you'd have to supply supporting evidence, which you obviously won't have.
You never tick both boxes.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.0 -
gadgetmind wrote: »Only tick the first box.
The second is to do with transfers to charities and such like. This doesn't apply to you and you'd have to supply supporting evidence, which you obviously won't have.
You never tick both boxes.
Merci. :beer:0 -
Confirmation here is you need it.
http://www.investmentfunds.org.uk/assets/files/fund-processing/fundtransferform2012.pdfI 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.0
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