Finance Act 1985

85 Repeal of certain fixed duties.U.K.

(1)The headings which are specified in Schedule 1 to the Stamp Act 1891 and are mentioned in Schedule 24 to this Act shall be omitted.

(2)In section 7 of the M1Finance Act 1907 (stamping of hirepurchase agreements) for the words from “shall only be charged” to the end there shall be substituted “shall not be charged with any stamp duty.”

(3)This section and that Schedule apply to—

(a)instruments executed on or after 26th March 1985, and

(b)instruments executed on or after 19th March 1985 which are not stamped before 26th March 1985.

(4)For the purposes of section 14(4) of the M2Stamp 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 (3) (b) above shall be deemed to be that as varied in accordance with this section.

(5)This section and that Schedule shall be deemed to have come into operation on 26th March 1985.

Marginal Citations