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Changes to Procedure for Paying Stamp Duty & Filing Form SH03

August 2021

Companies House has updated its guidance on filing Form SH03 (return of purchase of own shares), which needs to be stamped to indicate that stamp duty has been paid, when a company buys back its own shares. Going forwards, a company should send an electronic version of Form SH03 to HM Revenue & Customs (HMRC) and pay the appropriate stamp duty. HMRC will then issue a letter confirming payment of stamp duty, which the company should send to Companies House together with Form SH03.

This change to procedure has necessitated the updating of several templates that relate to a company purchasing its own shares (out of profits and capital). This includes updates to the guidance notes, board resolutions, letters to Companies House and Companies House forms.

More information is available on Companies House and Companies House guidance can be accessed here.

The contents of this Newsletter are for reference purposes only and do not constitute legal advice. Independent legal advice should be sought in relation to any specific legal matter.

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