Transfer of interest in share

Transfer of interest in share

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Recently taken over a client with one share in issue and although both husband and wife have equal input to the business, only one is director and shareholder.
Presumably, if further shares are issued then this would need to have been reported on Form 42 so can one party simply gift half of their interest in the one share in issue to the other by both signing a stock transfer form which wouldn't need to be stamped? Obviously, this allows a bit more freedom with dates.

Am I missing anything or has anyone got other ideas?
Jemma

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