Finance Act 1999, Paragraph 12A is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F112A(1)Stamp duty is not chargeable on a substitute instrument.U.K.
(2)A substitute instrument is a bearer instrument given in substitution for a like instrument stamped ad valorem (whether under this Schedule or otherwise) (“the original instrument”).
(3)The substitute instrument shall not be treated as duly stamped unless it appears by some stamp F2... on it that the full and proper duty has been paid on the original instrument.]
Textual Amendments
F1Sch. 15 para. 12A and cross-heading inserted (with effect in accordance with s. 99(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 32 para. 11(3)
F2Word in Sch. 15 para. 12A(3) omitted (22.4.2019) by virtue of The Stamp Duty (Method of Denoting Duty) Regulations 2019 (S.I. 2019/719), regs. 1, 4(a)(ii)
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