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Markel Tax

27 Apr 2020

Stamp Duty – a temporary modernisation

HMRC are not currently accepting paper submissions of documents for stamping and temporary measures have been put in place to allow documents to be submitted electronically.

In order for forms to be processed they will need to be emailed as a PDF electronic copy to stampdutymailbox@hmrc.gov.uk.

Whilst the COVID-19 measures are in place HMRC will accept electronic signatures.
Stock transfer and other forms need to be fully completed signed and dated, they must also include any electronic versions of agreements or supporting documents if HMRC have given a formal opinion or adjudication on how much Stamp Duty should be paid.

If a paper form has already been posted, it should be resubmitted electronically, with any details of payments you have made. Paper forms that are not resubmitted will not be processed until the temporary COVID-19 measures end.

To prevent delay Stamp Duty must be paid in order for HMRC to process forms, if payment has not been made or details of the payment have not been attached to the relevant documents HMRC will email the presenter before proceeding.

HMRC's current guidance states that they aim to deal with 80% of stock transfer forms within 15 working days of receiving them, but that taxpayers should allow 20 working days for papers to be fully dealt with.

For further information and assistance with stamp taxes queries please contact Martin Mann or Mark Baycroft on 0845 490 0509.

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Tagged Tax for entrepreneurs and corporates Tax for entrepreneurs and corporates COVID-19
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R&D and the Construction Sector – Building a claim