Companies House Form SH03 - Return Of Purchase Of Own Shares
A purchase of own shares is when a company purchases shares in itself from an existing shareholder and the shares purchased are not redeemable shares. Please see "Own Share Purchase Out of Profits/New Share Issue/Cash – Guidance Notes" for more information.
There are several conditions that a private company must fulfil in order to be able to purchase its own shares.
The purchase of own shares is subject to stamp duty. This Form SH03 – Return of purchase of own shares must be sent to HM Revenue & Customs Stamp Office with a cheque for the required stamp duty. See box 4 on Form SH03 for details.
Once Form SH03 has been stamped and returned to the company, it must be filed with the Registrar of Companies within 28 days of the purchase of own shares. Failure to do so is an offence and any officer of the company in default is liable to a fine if found guilty.
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