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If a bearer instrument represents a substitute for an earlier original, the replacement instrument is required to be forwarded to HM Revenue & Customs, Stamp Taxes, together with a completed form and the original stamped instrument that it is to replace so that the bearer instrument denoting stamp can be impressed on the substitute.

By virtue of Part 5 of FA08/S99/SCH32 (which amends Paragraphs 6 and 20(b) of FA99/SCH15) no £5 fixed stamp duty charge will apply to a substitute bearer instrument dated on or after 13 March 2008 which replaces an earlier bearer instrument stamped with ad valorem duty