Transferring shares to a family member - how to do it?

chaotic_j

Hi,

My partner's grandmother has a small amount of shares in BAE current price of shares is £5.50 and she has about 48 so roughly £250 worth of shares.

She would like to transfer them to my partner - her granddaughter. We have tried looking online and it seems to suggest filling out a 'stock transfer form' and sending it to one of two HMRC customs stamp offices - Birmingham or Edinburgh.

Obviously as the amount is well below £11,000 there is no liability to pay anything. Is the above how we would go about transferring the shares?

Thank you in advance.

grey_gym_sock

does she have a share certificate? if so, she needs to post it to the company's registrar, together with a letter telling them the name & address that the shares are to be transferred into, and they'll issue a new certificate in that name. the letter should state that it's a gift (which makes it clear that no stamp duty applies).

xylophone

The Registrar is Equiniti.

Give Equiniti a ring to confirm.

http://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/Shareholders/Documents/STF_Combined.pdf

And if you are sending a certificate it would be as well to send it registered and signed for - presumably the granddaughter would prefer a nominee holding rather than a cert - frustrating and expensive if certs are lost in the post.

EdGasket

You need a stock transfer form. Complete and send that and the share certificate to the registrars. Don't waste time with letters because they will need the Stock Transfer form completed and signed before they can do anything.

xylophone

stock transfer form.

The link in my post above is to the Equiniti STF.

bigadaj

Why does she want to transfer the shares?

Selling them and gifting the cash would be just as easy, and a single holding in one comoany is poor investing in any case.