STSM022050 - Scope of stamp duty on shares: stamp duty: adjudication, stamps and reliefs: A 바카라 사이트減articular stamp바카라 사이트�
Traditionally, paper instruments of transfer (for example聽stock transfer forms) would be sent to HMRC and the payment of (or relief from) Stamp Duty would be confirmed by the physical stamping of the instrument using an impressed die.聽
When this was the case, two different adjudication stamps were used. They were both circular stamps and were impressed in vermillion ink using the same process聽used for the impression of duty stamps.
The first stamp was used when no Stamp Duty was payable聽and was known as the 바카라 사이트渆xempt바카라 사이트� or 바카라 사이트渁djudged not chargeable바카라 사이트� stamp. It included the text 바카라 사이트淎djudged not chargeable with any duty바카라 사이트�.
The second stamp was used when Stamp Duty was payable聽and was impressed in addition to the duty stamps. It included the text 바카라 사이트淎djudged duly stamped바카라 사이트�.
As noted in STSM011015 and STSM011015A physical stamping was replaced in 2020 by a new system, under which:聽
Transfer instruments (including form SH03 to record the purchase of own shares) are submitted聽to HMRC electronically聽
In place of a physical stamp on the transfer instrument, HMRC issues a letter confirming that duty has been paid,聽or an instrument has been adjudicated聽
Instruments which have been processed by HMRC under this system are "duly stamped" instruments (see STSM141030).聽
Once an instrument has been adjudicated its Stamp Duty status is established with certainty.
Rarely, it may be found that adjudication has been given on the basis of inaccurate, incorrect or incomplete information. Adjudication, once completed, can only be reopened following a request from the original applicant or by order of a court. Reopening adjudication聽needs to be authorised by an officer of at least Grade 7. Under no circumstances can HMRC initiate the reopening of adjudication.