Silence of the stamps
An emergency set of processes has been introduced which will allow HMRC to continue dealing with Stamp Duty for the duration of this emergency period.
Where appropriate, the replacement process will provide assurances that HMRC won’t levy penalties on company registrars who go ahead and register changes in ownership; HMRC have also vowed to not levy penalties on customers who subsequently send physical documents for stamping once we are out of the current crisis period.
All stamp duty must, for the time being, be paid electronically, where payment is needed.
New guidance can be found on Gov.UK on both the completing a stock transfer form and paying stamp duty pages. This is initial guidance only which has been drafted quickly to allow HMRC to provide some reassurance. The guidance will be updated over the coming days to also include recommend a procedure to deal with adjudication applications.
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