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HMRC internal manual

Stamp Taxes on Shares Manual

Bearer instruments: bearer instrument duty - compliance: penalty on late notification and payment of bearer instrument stamp duty on a transfer

If the provisions for stamping transfers of stock chargeable under paragraphs 2 and 23 of FA99/SCH15 are not complied with, then the terms of paragraph 23(3) makes provision for a failure to do so.

If the instrument is not duly stamped, any person who in the United Kingdom transfers any stock by means of the instrument, or is concerned as broker or as agent in any such transfer, is liable to a penalty not exceeding the aggregate of £300 and the amount of the duty chargeable.