What is a share transfer? A share transfer is the process by which shares can be transferred from an existing shareholder to someone else. Therefore the total share capital does not change – just the ownership of the shares. This is, obviously, different to a share issue – where the company creates and issues new shares – ie the share capital increases.
Shares are usually transferred for money (i.e. bought and sold), but they do not have to be – you can gift shares.
Can you process a share transfer using Kudocs? Yes – you can use Kudocs to perform the entire share transfer process (including deeds of adherence for new shareholders, stock transfer forms, new share certificates, etc), or you can just record the outcome, and still use Kudocs to complete the admin.
Will Kudocs generate Stock Transfer Forms for me? Yes in draft or the final document. This applies in the perform and record routes.
Will Kudocs submit Stock Transfer Forms to HMRC for me? Unfortunately not… You still need to submit that offline directly to HMRC.
Does Kudocs calculate if stamp duty is payable, and if so, how much? Yes, we will automatically calculate if stamp duty is payable by the recipient (if they are paying more than £1,000 for the shares) and how much is payable (0.5%, rounded up to the nearest £5).