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HMRC internal manual

Stamp Taxes on Shares Manual

Compliance: stamp duty compliance miscellaneous: Free standing penalties

There are a number of stamp duty penalties, other than for late stamping. A maximum amount is specified. A penalty less than the maximum may be imposed where appropriate. These free standing penalties (and the maximum amounts) are as follows.

  • SDMA1891/S21: Fraud in relation to duties: £3,000.
  • Stamp Act 1891/S5: Failure to set out in a document the true facts and circumstances affecting the liability to stamp duty of that document: £3,000.
  • Stamp Act 1891/S12A(2): Failure, without reasonable excuse, to stamp an instrument within 30 days following adjudication: £300.
  • Stamp Act 1891/S16: Failure to allow inspection of any rolls, books, etc which would secure payment of duty or lead to the discovery of a stamp duty fraud: £300
  • Stamp Act 1891/S17: Penalty for enrolling, registering etc a document not duly stamped : £300
  • Stamp Act 1891/S83: Penalty for issuing a foreign security not duly stamped: £300
  • FA63/S67(1) and similarly FA(Northern Ireland)63/S16(1): Penalty for circulating a blank transfer: £300 plus an amount equal to twice the stamp duty chargeable in respect of the relevant transfer