Completing a Stock Transfer Form - Gifting to Spouse

drlabman

I recently asked about transferring shares to joint ownership with my wife, in order to avoid breaking the new threshold for dividends.

To give you some detail, let's say I own approx 2000 shares in company X and their current total value is, say, £25K.

After much consideration, I've decided to gift half my shares to my wife instead.  I have the stock transfer form from Equiniti - and I'm pretty sure I know how to fill it in - except for the Certificate 1 and Certificate 2 parts - I find the wording confusing and somewhat contradictory in all the examples I've seen online.  I'll be gifting the shares, so the consideration is NIL.  I'm pretty sure there's no stamp duty due.

So which of the sections Certificate 1 or Certificate 2 do I complete?  Or neither?

Although I own 2000 shares, I'll only be gifting/transferring 1000.  I assume I'll be issued a new share certificate for 1000, as will my wife.

Update: helps to read the Notes section of the form!  Since the consideration is NIL, neither Certificate 1 nor Certificate 2 needs to be completed.

xylophone

https://www.gov.uk/guidance/stamp-duty-on-shares

You do not need to fill in either certificate 1 or 2 where no consideration is given for the shares or if you’re claiming a relief from Stamp Duty.