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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 10274
Experience:  30 years as a practising solicitor.
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I completed a Stock Transfer form last year when I sold some

Resolved Question:

I completed a Stock Transfer form last year when I sold some shares in a private company for around £60,000.
I've recently found out that the buyer, instead of using the original (in my possession), took a copy of the STF, changed the transaction date, had a solicitor certify the copy, and sent that to the Stamp Duty Office to pay the Stamp Duty. I think the change in date meant no interest/penalty was paid.
I don't think I've been defrauded, but certainly don't like that my signature has been handled this way. What actions can I take against the solicitor? Can I seek compensation?
Submitted: 10 months ago.
Category: Law
Expert:  JGM replied 10 months ago.
Stamp Duty would have been paid at 0.5% of the purchase. A penalty would have been imposed for late submission of the form and that could explain the attempt to change the date, although the penalty is only 10% of the duty if it's submitted up to 12 months late. You have not been defrauded in that you haven't suffered a loss and the attempt at tax evasion is at the hands of the buyer. Certainly the Solicitors Rgulation Authority would not be impressed that a solicitor was certifying a document that had been deliberately changed, and that would be where such a report would be made. You would not be able to seek compensation as you have not suffered any loss.
Customer: replied 10 months ago.
Thanks. Regarding SRA, what severity would they apply to this - slap on the wrist or loss of licence etc.?
Expert:  JGM replied 10 months ago.
It's difficult to say without knowing the circumstances. If there was a deliberate attempt to deceive the tax authorities that would be treated seriously but probably short of being removed from the roll of solicitors.
JGM, Solicitor
Category: Law
Satisfied Customers: 10274
Experience: 30 years as a practising solicitor.
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