In general, shares in the business are the business’s property. But sometimes the ownership can be transferred or sold to other people. This is legal as per the Companies Act 2006. So, share transfer is a process where on shareholder of the company agrees to transfer the shares to another shareholder. Some people transfer the shares for cash, and some do this for goods and services. Besides, in some cases, one can gift the shares to family members.
It is the board of directors who check the Articles of Association and give permission to commence the process. The shareholder should complete and sign a Stock Transfer Form for this. The from bust be submitted to HMRC Stamp office. If the value of the share is more than 1000 Euro, then the shareholder must pay the stamp duty. The form may include the following information:
• Company name and registration number.
• Amount and category of share.
• Name and address of the transferor and the transferee and more.
5678 Seltice Way Coeur D
Alene, ID 12345