I have shares in a closed company of which I am a director. We are only talking about a nominal share capital of 50.00
I wish to transfer a proportion of these to a business partner.
I believe that the yearly return should show the new allocation of shares but am wondering what should be done in the meantime.
Would a simple letter from me to the company secretary be sufficient with the issue of new share certificates? What else should I do?
You need to complete a stock transfer form, submit this to IR Stamp Office and pay the requisite stamp duty, probably a minimum 5 duty.
HTH
In message , Paul Garbett writes
If the shares are a gift they will be exempt from stamp duty under category L.
Otherwise .5% rounded up to the next full fiver.
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