STSM081090 | Trusts and pension schemes: trust documents not required to be presented for stamping

The following documents do not require stamping if executed on or after 13 March 2008:

• Documents creating a trust (whether under hand or seal)

• Documents altering one of the essentials of a trust (thereby creating a new trust)

• Less formal documents which effect the creation or alteration of a trust (for example signed minutes relating to company resolutions)

• In England and Wales,:

• Orders confined to the lifting of protective trusts (previously exempt)

• Orders effecting gifts

• All other orders that contain declarations of trust and do not affect the disposition of trust property

• In Scotland,

• Interlocutors confined to lifting the alimentary restriction on a liferent (these were not chargeable with stamp duty even before 13 March 2008)

• Interlocutors altering the powers of trustees

The following types of order also do not require stamping if executed on or after 13 March 2008:

• An order appointing original or new trustees

• An order appointing new trustees and vesting in them the right to transfer stock or marketable securities capable of being vested

• An order appointing new trustees and vesting in them the right to sue for any chose in action (in Scotland, any debt)

• An order vesting in new trustees the right to transfer a marketable security and to receive dividends.