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HMRC internal manual

Stamp Taxes on Shares Manual

Scope of stamp duty on shares: stamp duty: basics of a charge: chargeable consideration: debt

Section 57 of the Stamp Act 1891 applies where a sale is in consideration of a debt or

subject to a debt.

It provides for a charge to duty on:

  • debt released as consideration for the transfer. See STSM021080 for examples.
  • debt assumed by the purchaser. See STSM021090 for examples.
  • cash to be paid at a future date either certainly or contingently. See STSM021100 for examples.
  • stock or marketable securities to be transferred or allotted at a future date. See STSM021110 for examples.

The chargeable amount of the debt includes any unpaid interest due upon it at the date of execution of the document.