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.