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You are hereHome / Stamp Duty

11 May 2020

HMRC have put in place temporary measures due to COVID-19, which require stamp duty on shares to be paid electronically using Online Banking, Bacs or CHAPS.  The Stamp Duty must be paid within 30 days and whilst same day payments may be made using online banking or CHAPS, Bacs payments can take up to 3 working days to be processed.  Note, that if the payment falls on a weekend or bank holiday any CHAPS or Bacs payments must reach HMRC on the last working day before the due date.  If HMRC are sent a payment by cheque it will not be banked until COVID-19 measures end causing transactional delays.

Once the Stamp Duty has been paid an email must be sent to HMRC at stampdutymailbox@hmrc.gov.uk with payment details and an electronic copy of the signed and dated stock transfer form.  HMRC have confirmed that e-signatures will be acceptable during this period.  HMRC will then send a return email either requesting further information or confirming that the transaction may be processed.  HMRC are not stamping forms during this period.