Thank you for reply but this is not what I was asking.
How HMRC control that stamp duty is paid correctly? See my initial question above.
More info if it will help....
Lets say companies expenses for last year were 1,5 mln. pounds but it never had taxable income. A month before said stock transfer for symbolic consideration (1 pound for about 20% of all shares) or no consideration, the Company issued new shares at the price 4 pounds per share. So, a month before stock transfer same shareholder was happy to pay much more than it get from further transfer of shares.
Correct me if I am wrong but stamp duty is paid not from the value parties envisage in the stock transfer form but at the market value of shares. If so, I wonder how HMRC is going to detect that marked value if shares are not traded at stock exchange?
"HMRC don't." - do you mean that nobody controll correctnes of duties paid? Why then anyone shall pay the duty?
There shall be some inforcement and control procedure. I wonder how it works in practice
how this may influence transfer of shares?
Thank you, XXXXX XXXXX what ground connected with Stamp Duty previous transaction with shares may be challenged if there is new share certificate? How someone in the future may judge what was the real price of transaction?
It is more or less clear what to do with stamps when there is consideration. Correct me if I am wrong but if there is no consideration (nothing is stated on the top of the form), may this create questions in the future?
I am referring to what you wrote before: "If the previous conveyance is incorrectly stamped then the vendor's title is suspect and the transaction held up until the matter is settled."
How future transaction may be suspected in described case?
To sum up:
1) HMRC do not control accuracy of payment of SD
2) do you mean that if it is stated in the field consideration "Nil", nothing mentioned in the minutes of the board on the contrary, and no consideration is obtained in fact , - there is no ground to make stamp duty situation a deal stopper for further sale of shares?
3) Lets lays that in the future, someone (who? how? if transfer is made between oversees companies) detected that regardless "Nil" is stated in the field consideration Transferor received consideration from Transferee (for example in form of acceptance by Transferee the debt of Transferor). What is the mechanics of challenging of transaction in the past and how unpaid stamp duty is relevant?