stock transfer form

[Cruise70]

Hi, I set up a Ltd. co about 2 years ago. I have 51% share and my partner 49%. (100 shares at £1 each). Now my partner wants out of the business and she does not want any money for the shares. She wants to "gift them" to me so no money is involved.
We have completed the stock transfer form but what is the next step? Not sure who keeps the form and also do we need to inform anyone about the transfer?

[Craig@Clarity]

Hi, I set up a Ltd. co about 2 years ago. I have 51% share and my partner 49%. (100 shares at £1 each). Now my partner wants out of the business and she does not want any money for the shares. She wants to "gift them" to me so no money is involved.
We have completed the stock transfer form but what is the next step? Not sure who keeps the form and also do we need to inform anyone about the transfer?

All you need to do is keep the original stock transfer form for your records. As it's gifted, there'll be no stamp duty to pay. The transfer of the shares can then be updated and registered at Companies House when you complete your next annual return (AR01).

Hope this helps

And also consider whether a Form 42 needs to be completed and filed at HMRC.