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Finance Act 1999, Cross Heading: Duty chargeable on transfer of stock by means of instrument is up to date with all changes known to be in force on or before 23 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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23(1)This paragraph applies where duty is chargeable under paragraph 2 of this Schedule.U.K.
(2)Where the instrument is presented to the Commissioners for stamping—
(a)the person presenting it, and
(b)the owner of the instrument,
shall furnish to the Commissioners such particulars in writing as the Commissioners may require for determining the amount of duty chargeable.
(3)If the instrument is not duly stamped each person who in the United Kingdom—
(a)transfers any stock by or by means of the instrument, or
(b)is concerned as broker or agent in any such transfer,
is liable to a penalty not exceeding the aggregate of £300 and the amount of duty chargeable.
(4)Those persons are also jointly and severally liable to pay to Her Majesty—
(a)the duty chargeable, and
(b)interest on the unpaid duty from the date of the transfer in question until the duty is paid.
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