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Finance Act 1980
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- 1980 c. 48
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- Section 95
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Changes over time for: Section 95
Version Superseded: 27/07/1999
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- 01/02/1991- Amendment
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Point in time - 27/07/1999- Amendment
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95 Reduction of stamp duty on conveyances and leases.U.K.
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(2)In subsection (2) of the said section 55 and of the said section 4 (under which the relief afforded by subsection (1) of those sections is not available as respects the duty chargeable in respect of the premium for a lease if the consideration includes rent exceeding £150 a year) for “£150” there shall be substituted “£250”.
(3)In the heading “Lease or Tack” in Schedule 1 to the M1Stamp Act 1891 as it applies throughout the United Kingdom—
(a)in paragraph (2)(a) (duty where definite term less than a year of furnished dwelling-house and rent exceeds £250) for “£250” there shall be substituted “£400”, and
(b)in the Table in paragraph (3) (which provides for duty on rent in the case of any other term and the first column of which indicates the rent, the second column the duty where the term does not exceed 7 years or is indefinite, the third column the duty where the term exceeds 7 years but not 35 years, the fourth column the duty where the term exceeds 35 years but not 100 years and the fifth column the duty where the term exceeds 100 years) for the last entry there shall be substituted—
| “Exceeding £250 and not exceeding £300. | Nil | 6.00 | 36.00 | 72.00 |
| Exceeding £300 and not exceeding £350. | Nil | 7.00 | 42.00 | 84.00 |
| Exceeding £350 and not exceeding £400. | Nil | 8.00 | 48.00 | 96.00 |
| Exceeding £400 | ||||
| for any full sum of £50 and also for any fractional part thereof. | 0.50 | 1.00 | 6.00 | 12.00” |
(4)This section applies to instruments executed on or after 6th April 1980 and shall be deemed to have come into force on that date.
Textual Amendments
F1S. 95(1) repealed by Finance Act 1984 (c. 43, SIF 114), s. 128(6), Sch. 23 Pt. X
Modifications etc. (not altering text)
C1The text of s. 95(2)–(4) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991
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