Has Stamp Duty exemption been claimed?
The introduction of Stamp Duty Land Tax (SDLT) on 1 December 2003 has greatly reduced the number of cases where an instrument of variation (IoV) will need a stamp duty exemption certificate.
From 1 December 2003 an IOV only requires an exemption certificate where stocks and shares are varied and the instrument itself, rather than a separate stock transfer form, acts as the form of share transfer. Any cases where the exemption certificate is not included should be referred to Technical.
For any instrument executed prior to 1 December 2003 but on or after 1 May 1987 the Stamp Duty (Exempt Instruments) Regulations 1987 (SI1987/516) applied. The Regulations applied to instruments executed on or after 1 May 1987 that contained as part of, or attached to, the document, a certificate to the effect that the document fell within one of the categories of transactions covered by the Regulations.