- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (27/07/1999)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 21/07/2008
Point in time view as at 27/07/1999. This version of this provision has been superseded.
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There are currently no known outstanding effects for the Finance Act 1985, Section 82.
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(1)The stamp duty chargeable by virtue of section 74 of the M1Finance (190910) Act 1910 (gifts inter vivos) is abolished.
(2)In section 58(7) of the Stamp Act 1891 (valuation by reference to value for purposes of section 74 of 1910 Act) for the words from “the value” to the end there shall be substituted “the value at any time of any property, that value shall be taken to be the price which the property might reasonably be expected to fetch on a sale at that time in the open market.”
(3)In section 90(5) of the M2Finance Act 1965 (which relates to valuation for the purposes of subsection (1) of that section and of section 74 of the 1910 Act) for “either of those provisions” there shall be substituted “that subsection”; and in section 4(5) of the M3Finance Act (Northern Ireland) 1965 (which makes similar provision) for “either of those provisions” there shall be substituted “that subsection”.
(4)In section 15(1) of the M4Finance (No. 2) Act 1983 (relief from duty under section 74 of the 1910 Act for local constituency associations) for the words from “7 above” to the end there shall be substituted “7 above, section 57 of the M5Stamp Act 1891 shall not apply in relation to a conveyance or transfer by which the disposal or, in the case of paragraph (b), either of the disposals referred to in that paragraph is effected.”
(5)An instrument—
(a)in respect of which stamp duty would be chargeable by virtue of section 74 of the 1910 Act apart from this section, and
(b)on which stamp duty is not chargeable under [F1Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale)],
shall not be deemed to be duly stamped unless it has, in accordance with section 12 of the 1891 Act, been stamped with a particular stamp denoting that it is duly stamped or that it is not chargeable with any duty.
(6)This section applies to—
(a)instruments executed on or after 26th March 1985, and
(b)instruments executed on or after 19th March 1985 which are stamped on or after 26th March 1985.
(7)For the purposes of section 14(4) of the Stamp Act 1891 (instruments not to be given in evidence etc. unless stamped in accordance with the law in force at the time of first execution), the law in force at the time of execution of an instrument falling within subsection (6)(b) above shall be deemed to be that as varied in accordance with this section.
(8)The preceeding provisions of this section shall be deemed to have come into operation on 26th March 1985.
(9)Subsection (5) above does not apply to an instrument which is required by regulations under section 87(1) or (2) below to be certified.
Textual Amendments
F1Words in s. 82(5) substituted (27.7.1999 with effect in relation to instruments executed on or after 1.10.1999) by 1999 c. 16, s. 112(4)(6), Sch. 14 para. 9
Modifications etc. (not altering text)
C1Ss. 82(5), 84(9) restricted by S.I. 1987/516, reg. 5
Marginal Citations
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