Below is the general transfer of shares procedure:
- All existing members are to agree to the share transfer
- Fill out a stock transfer J30 or J10 form
- Form J30 is used when shares being transferred are fully paid
- Form J10 is used when shares being transferred are partly paid or unpaid
- The person transferring the shares is to sign the J30 form. When filing the J10 form, both the person signing over the shares and the person receiving the shares, are to sign
- If required, a copy of the form must be stamped and stamp duty must be paid to HMRC (if transferring more than £1,000 worth of shares)
- Create a board resolution, and issue new certificate(s)
- You must then report the changes to Companies House within 21 days
- The transfer needs to be confirmed at Companies House via the confirmation statement
Company Formation MadeSimple can help with completing a Transfer of Shares on your behalf. We'll supply and prepare all the relevant documents and send you the documents to sign and keep.
Once completed, you will need to update Companies House with this information via a confirmation statement, and this will need to be reported to Companies House within 21 days.
Alternatively, you can fill out either the J10 or J30 form yourself (forms can be found online) or hire an accountant.