can share certificate be transfered to me from ex-partner

taj

knowing absolutely nothing about shares, can anyone tell me if this can be done with his permission so that i give him approx half of todays value and the certificate is put into my name only?

LittleVoice

What sort of "partner"? Business or romantic?

Shares in what? A company quoted on the LSE or an unquoted PLC/Ltd?

Are the shares currently in joint names?

erb

Yes this can be done. You need a stock transfer form that the existing shareholders complete naming who the shares are to be transferred to. The form is then sent to the company's Share Registrars together with the share certificate and a new share certificate is then sent by them to the person named on the form. I have done this and the transfer was done with no charge.

Try ringing the company's Share Registrars for a transfer form.

barak

erb wrote: »

...the transfer was done with no charge.

You have to be able to tick the right box to escape paying 0.5% Stamp Duty. Not sure of all the facts in your case, taj.

a&akay

Google 'computershare' then click on 'downloadable forms' in the index on the left of the screen when the site opens. Scroll down to 'stock transfer form' at the very bottom of the list. You can fill in most of this form on screen eg addresses which makes it far more professional. If it is a person to person transfer and not a business partner, which I am assuming, then the consideration is 'nil' by hand in the top left once you have printed it off. The category is 'L' in the 2 places you need to fill it in on page 2. The person giving you the shares needs to say why in the relevant place. I entered 'I give my shares to my son'. Otherwise follow the Guidance Notes above the form. Other Registrars accept this form. I have transferred many shares recently from my Mum to myself and my brother with no problem for free and have now received all the new share certs within a month. Make a copy of the original share cert in case there are problems later however. You can find out who the Registrar for the shares is by Googling the Company's site and clicking on the shareholders' section. Once you have the cert give him half of the share price on the day of transfer. You can get this off the Company's site.

barak

a&akay wrote: »

Once you have the cert give him half of the share price on the day of transfer.

It's not quite as simple as that.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnSavingsAndInvestments/DG_10013514

a&akay

barak wrote: »

It's not quite as simple as that.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnSavingsAndInvestments/DG_10013514

I paid nothing on 10 differerent transfers. You can give away as much as you like as long as you live for 7 years, and up to £3k IHT free.

barak

a&akay wrote: »

I paid nothing on 10 different transfers. You can give away as much as you like as long as you live for 7 years, and up to £3k IHT free.

a&akay - It's not IHT I am referring to - it's the 0.5% Stamp Duty due on purchase of shares in most cases.

I don't want to labour the point, but if you transfer shares within category 'L' - you are saying that it is a 'Gift Transfer' for no consideration - i.e. you are not paying for them in any way, in which case no Stamp Duty is payable. This may have been true in your case, but does not appear to be so for taj.

Category 'L' covers -
"The conveyance or transfer of property operating as a voluntary disposition inter vivos for no consideration in money or money’s worth nor any consideration referred to in section 57 of the Stamp Act 1891 (conveyance in consideration of a debt etc). (Gift transfer)."

a&akay

barak wrote: »

a&akay - It's not IHT I am referring to - it's the 0.5% Stamp Duty due on purchase of shares in most cases.

I don't want to labour the point, but if you transfer shares within category 'L' - you are saying that it is a 'Gift Transfer' for no consideration - i.e. you are not paying for them in any way, in which case no Stamp Duty is payable. This may have been true in your case, but does not appear to be so for taj.

Category 'L' covers -
"The conveyance or transfer of property operating as a voluntary disposition inter vivos for no consideration in money or money’s worth nor any consideration referred to in section 57 of the Stamp Act 1891 (conveyance in consideration of a debt etc). (Gift transfer)."

I've no problem with what you're saying but the OP inferred she wanted all the shares in which case she gets them all at nil cost as a gift. She then says to her ex partner quite independently 'Thank you for your wonderfull gift, as thanks I would like to reciprocate and give you £x' (which happens to be half the value of the shares at transfer).

barak

a&akay wrote: »

I've no problem with what you're saying but the OP inferred she wanted all the shares in which case she gets them all at nil cost as a gift. She then says to her ex partner quite independently 'Thank you for your wonderfull gift, as thanks I would like to reciprocate and give you £x' (which happens to be half the value of the shares at transfer).

I'm not a lawyer, but I suspect that if evidence of such 'reciprocation' was apparent, it would give rise to a liablility for Stamp Duty.

a&akay

barak wrote: »

I'm not a lawyer, but I suspect that if evidence of such 'reciprocation' was apparent, it would give rise to a liablility for Stamp Duty.

I love these arguments. Please explain how the billions of financial transactions are monitored to highligt this connection.