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Textual Amendments
F1Ss. 18, 19 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F2S. 20 repealed by Finance Act (Northern Ireland) 1925 (c. 30) (N.I.), s. 3
Textual Amendments
F3S. 21 repealed by Finance Act 1947 (c. 35), Sch. 11 Pt. I
Textual Amendments
F4S. 22 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. IV
Textual Amendments
F5S. 23 repealed by Finance Act 1971 (c. 68), Sch. 14 Pt. VI
Textual Amendments
F6S. 24 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Every writing relating to the service or tuition of any apprentice, clerk, or servant placed with any master to learn any profession, trade, or employment (except articles of clerkship to a solicitor or law agent or writer to the signet) is to be deemed an instrument of apprenticeship.
Textual Amendments
F7S. 26 repealed by Finance Act 1947 (c. 35), Sch. 11 Pt. I
Textual Amendments
F8S. 27 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F9S. 28 repealed by Finance Act (Northern Ireland) 1925 (c. 30) (N.I.), s. 3
Textual Amendments
F10Ss. 29–31 repealed by Finance Act 1972 (c. 41), Sch. 28 Pt. XI
Ss. 29-31 expressed to be repealed (1.1.1992) by Finance Act 1991 (c. 31, SIF 114), ss. 115, 123, Sch. 19 Pt.VII
Textual Amendments
F11Ss. 32, 33 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. V
Textual Amendments
F12S. 34 repealed by Finance Act 1961 (c. 36), Sch. 6 Pt. II
Textual Amendments
F13Ss. 35–39 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. V
Textual Amendments
F14Ss. 40, 42 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
A bill of sale is not to be registered under any Act for the time being in force relating to the registration of bills of sale unless the original, duly stamped, is produced to the proper officer.
Textual Amendments
F15Ss. 40, 42 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F17S. 44 repealed by Solicitors Act 1932 (c. 37), Sch. 4 and Solicitors (Scotland) Act 1933 (c. 21), Sch. 3
Textual Amendments
(1)For the purposes of this Act the expression “charter-party” includes any agreement or contract for the charter of any ship or vessel or any memorandum, letter, or other writing between the captain, master, or owner of any ship or vessel, and any other person for or relating to the freight or conveyance of any money, goods, or effects on board of the ship or vessel.
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F19
Textual Amendments
F19Ss. 49(2), 50, 51 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F20Ss. 49(2), 50, 51 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F21Ss. 52, 53 repealed by Finance (1909–10) Act 1910 (c. 8), Sch. 6
For the purposes of this Act the expression “conveyance on sale” includes every instrument, and every decree or order of any court or of any commissioners, whereby any property, or any estate or interest in any property, upon the sale thereof is transferred to or vested in a purchaser, or any other person on his behalf or by his direction.
Modifications etc. (not altering text)
C1S. 54 explained by Finance Act 1898 (c. 10), s. 6
(1)Where the consideration, or any part of the consideration, for a conveyance on sale consists of any stock or marketable security, the conveyance is to be charged with ad valorem duty in respect of the value of the stock or security.
(2)Where the consideration, or any part of the consideration, for a conveyance on sale consists of any security not being a marketable security, the conveyance is to be charged with ad valorem duty in respect of the amount due on the day of the date thereof for principal and interest upon the security.
(1)Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period not exceeding twenty years, so that the total amount to be paid can be previously ascertained, the conveyance is to be charged in respect of that consideration with ad valorem duty on such total amount.
(2)Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period exceeding twenty years or on perpetuity, or for any indefinite period not terminable with life, the conveyance is to be charged in respect of that consideration with ad valorem duty on the total amount which will or may, according to the terms of sale, be payable during the period of twenty years next after the day of the date of the instrument.
(3)Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically during any life or lives, the conveyance is to be charged in respect of that consideration with ad valorem duty on the amount which will or may, according to the terms of sale, be payable during the period of twelve years next after the day of the date of the instrument.
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F22
Textual Amendments
F22S. 56(4) repealed by Finance Act 1971 (c. 68), Sch. 14 Pt. VI
Where any property is conveyed to any person in consideration, wholly or in part, of any debt due to him, or subject either certainly or contingently to the payment or transfer of any money or stock, whether being or constituting a charge or incumbrance upon the property or not, the debt, money, or stock is to be deemed the whole or part, as the case may be, of the consideration in respect whereof the conveyance is chargeable with ad valorem duty.
Modifications etc. (not altering text)
C2S. 57 explained by Finance Act 1898 (c. 10), s. 6
C3S. 57 excluded by Finance Act 1980 (c. 48, SIF 114), s. 102, Finance Act 1981 (c. 35, SIF 114), s. 107(1) and Finance (No. 2) Act 1983 (c. 49, SIF 114), s. 15(1) as amended by Finance Act 1985 (c. 54, SIF 114), s. 82(4)
(1)Where property contracted to be sold for one consideration for the whole is conveyed to the purchaser in separate parts or parcels by different instruments, the consideration is to be apportioned in such manner as the parties think fit, so that a distinct consideration for each separate part or parcel is set forth in the conveyance relating thereto, and such conveyance is to be charged with ad valorem duty in respect of such distinct consideration.
(2)Where property contracted to be purchased for one consideration for the whole by two or more persons jointly, or by any person for himself and others, or wholly for others, is conveyed in parts or parcels by separate instruments to the persons by or for whom the same was purchased for distinct parts of the consideration, the conveyance of each separate part or parcel is to be charged with ad valorem duty in respect of the distinct part of the consideration therein specified.
(3)Where there are several instruments of conveyance for completing the purchaser’s title to property sold, the principal instrument of conveyance only is to be charged with ad valorem duty, and the other instruments are to be respectively charged with such other duty as they may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty payable in respect of the principal instrument.
(4)Where a person having contracted for the purchase of any property, but not having obtained a conveyance thereof, contracts to sell the same to any other person, and the property is in consequence conveyed immediately to the sub-purchaser
[F23then, except where—
the chargeable consideration moving from the sub-purchaser is less than the value of the property immediately before the contract of sale to him, and
the conveyance is not one to which section 107 of the Finance Act M11981 (sales of houses at discount by local authorities etc.) applies]
the conveyance is to be charged with ad valorem duty in respect of the consideration moving from the sub-purchaser.
(5)Where a person having contracted for the purchase of any property but not having obtained a conveyance contracts to sell the whole, or any part or parts thereof, to any other person or persons, and the property is in consequence conveyed by the original seller to different persons in parts or parcels [F24then, except where the aggregate of the chargeable consideration for the sale of all such parts or parcels is less than the value of the whole of the property immediately before the contract for their sale or, as the case may be, the first contract for the sale of any of them], the conveyance of each part or parcel is to be charged with ad valorem duty in respect only of the consideration moving from the sub-purchaser thereof, without regard to the amount or value of the original consideration.
(6)Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with ad valorem duty in respect of the consideration moving from him, and is duly stamped accordingly, any conveyance to be afterwards made to him of the same property by the original seller shall be chargeable only with such other duty as it may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty.
[F25(7)Any reference in subsection (4) or subsection (5) of this section to chargeable consideration is a reference to consideration which falls to be brought into account in determining the duty (if any) chargeable on the conveyance to the sub-purchaser or, as the case may be, on the conveyance of each of the parts or parcels in question; and in any case where it is necessary for the purposes of either of those subsections to determine [F26the 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.]]
Textual Amendments
F23Words and ss. 58 (4)(a)(b) inserted by Finance Act 1984 (c. 43, SIF 114), s. 112(1)(4)
F24Words inserted by Finance Act 1984 (c. 43, SIF 114), s. 112(2)(4)
F25S. 58 (7) inserted by Finance Act 1984 (c. 43, SIF 114), s. 112(3)(4)
F26Words substituted by Finance Act 1985 (c. 54, SIF 114), s. 82(2)
Marginal Citations
(1)Any contract or agreement . . . F27 for the sale of any equitable estate or interest in any property whatsoever, or for the sale of any estate or interest in any property except lands, tenements, hereditaments, or heritages, or property locally situate out of the United Kingdom, or goods, wares or merchandise, . . . F28or any ship or vessel, or part interest, share, or property of or in any ship or vessel, shall be charged with the same ad valorem duty, to be paid by the purchaser, as if it were an actual conveyance on sale of the estate, interest, or property contracted or agreed to be sold.
(2)Where the purchaser has paid the said ad valorem duty and before having obtained a conveyance or transfer of the property, enters into a contract or agreement for the sale of the same, the contract or agreement shall be charged, if the consideration for that sale is in excess of the consideration for the original sale, with the ad valorem duty payable in respect of such excess consideration, [F29but shall not otherwise be chargeable . . . F30.]
(3)Where duty has been duly paid in conformity with the foregoing provisions, the conveyance or transfer made to the purchaser or sub-purchaser, or any other person on his behalf or by his direction, shall not be chargeable with any duty, and the Commissioners, upon application, either shall denote the payment of the ad valorem duty upon the conveyance or transfer, or shall transfer the ad valorem duty thereto upon production of the contract or agreement, or contracts or agreements, duly stamped.
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F31
(5)[F32Provided that where any such contract or agreement . . . F30would, apart from this section, not be chargeable with any duty], and a conveyance or transfer made in conformity with the contract or agreement is presented to the Commissioners for stamping with the ad valorem duty chargeable thereon within the period of six months after the first execution of the contract or agreement, or within such longer period as the Commissioners may think reasonable in the circumstances of the case, the conveyance or transfer shall be stamped accordingly, and the same, and the said contract or agreement, shall be deemed to be duly stamped. Nothing in this proviso shall alter or affect the provisions as to the stamping of a conveyance or transfer after the execution thereof.
(6)Provided also, that the ad valorem duty paid upon any such contract or agreement shall be returned by the Commissioners in case the contract or agreement be afterwards rescinded or annulled, or for any other reason be not substantially performed or carried into effect, so as to operate as or be followed by a conveyance or transfer.
Textual Amendments
F27Words repealed by Revenue Act 1909 (c. 43), Sch.
F28Words repealed by Finance Act 1990 (c. 29, SIF 114), s. 132, Sch. 19 Pt. VI
F29Words substituted by Finance Act 1970 (c. 24), Sch. 7 para. 1(3)(b)(i)
F30Words repealed by Finance Act 1985 (c. 54, SIF 114), s. 98(6), Sch. 27 Pt. IX(2)
F31S. 59(4) repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. IV
F32Words substituted by Finance Act 1970 (c. 24), Sch. 7 para. 1(3)(b)(ii)
Modifications etc. (not altering text)
C4S. 59 amended (E.W.S.) by Electricity Act 1989 (c. 29, SIF 44:1), s. 103
C5S. 59 amended (N.I.) (1.4.1992) by S.I. 1992/232, art.2; S.R. 1992/117, art. 3(1).
Where upon the sale of any annuity or other right not before in existence such annuity or other right is not created by actual grant or conveyance, but is only secured by bond, warrant of attorney, covenant, contract, or otherwise, the bond or other instrument, or some one of such instruments, if there be more than one, is to be charged with the same duty as an actual grant or conveyance, and is for the purposes of this Act to be deemed an instrument of conveyance on sale.
(1)In the cases herein-after specified the principal instrument is to be ascertained in the following manner;
(a),(b) . . . F33
(c)Where in Scotland there is a disposition or assignation executed by the seller, and any other instrument is executed for completing the title, the disposition or assignation is to be deemed the principal instrument.
(2)In any other case the parties may determine for themselves which of several instruments is to be deemed the principal instrument, and may pay the ad valorem duty thereon accordingly.
Textual Amendments
F33S. 61(1)(a)(b) repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Modifications etc. (not altering text)
C6S. 61 applied (27.7.1999 with effect in relation to instruments executed on or after 1.10.1999) by 1999 c. 16, ss. 112(3)(6), 122, Sch. 13, Pt. III, para. 21(2) (with s. 123(4))
Every instrument, and every decree or order of any court or of any commissioners, whereby any property on any occasion, except a sale or mortgage, is transferred to or vested in any person, is to be charged with duty as a conveyance or transfer of property:
Provided that a conveyance or transfer made for effectuating the appointment of a new trustee is not to be charged with any higher duty than [F3450p].
Textual Amendments
F34Words substituted by virtue of Decimal Currency Act 1969 (c. 19), s. 10(1)
Modifications etc. (not altering text)
C7S. 62 extended by Finance Act 1902 (c. 7), s. 9
Textual Amendments
F35Ss. 63–68 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F36Ss. 69–71 repealed by Finance Act 1905 (c. 4), Sch.
The duplicates or counterpart of an instrument chargeable with duty (except the counterpart of an instrument chargeable as a lease, such counterpart not being executed by or on behalf of any lessor or grantor), is not to be deemed duly stamped unless it is stamped as an original instrument, or unless it appears by some stamp impressed thereon that the full and proper duty has been paid upon the original instrument of which it is the duplicate or counterpart.
Modifications etc. (not altering text)
C8S. 72 excluded by Land Commission Act 1967 (c. 1), s. 25(4)
Where upon the exchange of any real or heritable property for any other real or heritable property, or upon the partition or division of any real or heritable property, any consideration exceeding in amount or value one hundred pounds is paid or given, or agreed to be paid or given, for equality, the principal or only instrument whereby the exchange or partition or division is effected is to be charged with the same ad valorem duty as a conveyance on sale for the consideration, and with that duty only; and where in any such case there are several instruments for completing the title of either party, the principal instrument is to be ascertained, and the other instruments are to be charged with duty in the manner herein-before provided in the case of several instruments of conveyance.
Textual Amendments
F37S. 74 repealed by Finance Act 1937 (c. 54), Sch. 6 Pt. II
(1)An agreement for a lease or tack, or with respect to the letting of any lands, tenements, or heritable subjects for any term . . . F38, or for any indefinite term, is to be charged with the same duty as if it were an actual lease or tack made for the term and consideration mentioned in the agreement.
[F39(2)Where duty has been duly paid on an agreement for a lease or tack and, subsequent to that agreement, a lease or tack is granted which either—
(a)is in conformity with the agreement, or
(b)relates to substantially the same property and term as the agreement,
then the duty which would otherwise be charged on the lease or tack shall be reduced (or, as the case may be, extinguished) by the deduction therefrom of the duty paid on the agreement.]
Textual Amendments
F38Words repealed by Finance Act 1984 (c. 43, SIF 114), s. 111(1)(5), Sch. 23 Pt. X
F39S. 75 (2) substituted by Finance Act 1984 (c. 43, SIF 114), s. 111(1)(5)
Modifications etc. (not altering text)
C9S. 75 amended by Finance Act 1963 (c. 25), s. 56(3)
Textual Amendments
F40Ss. 76, 77(3)(4), 78 repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
(1)A lease or tack, or agreement for a lease or tack, or with respect to any letting, is not to be charged with any duty in respect of any penal rent, or increased rent in the nature of a penal rent, thereby reserved or agreed to be reserved or made payable, or by reason of being made in consideration of the surrender or abandonment of any existing lease, tack, or agreement, or of relating to the same subject matter.
(2)A lease made for any consideration in respect whereof it is chargeable with ad valorem duty, and in further consideration either of a covenant by the lessee to make, or of his having previously made, any substantial improvement of or addition to the property demised to him, or of any covenant relating to the matter of the lease, is not to be charged with any duty in respect of such further consideration.
(3),(4) . . . F41
(5)An instrument whereby the rent reserved by any other instrument chargeable with duty and duly stamped as a lease or tack is increased is not to be charged with duty otherwise than as a lease or tack in consideration of the additional rent thereby made payable.
Textual Amendments
F41Ss. 76, 77(3)(4), 78 repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
Modifications etc. (not altering text)
C10S. 77(2) excluded by Revenue Act 1909 (c. 43), s. 8
Textual Amendments
F42Ss. 76, 77(3)(4), 78 repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
Textual Amendments
F43Ss. 79, 80 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F44S. 81 repealed by Finance Act 1917 (c. 31), s. 30(2)
Textual Amendments
F45S. 82 repealed with saving by Finance Act 1973 (c. 51), s. 59(7), Sch. 22 Pt. V
Every person who in the United Kingdom F46. . . assigns, transfers, negotiates, F47. . . any foreign security or [F48commonwealth government security not being duly stamped, shall incur a fine of twenty pounds.]
Textual Amendments
F46Words repealed by Finanace Act 1973 (c. 51), Sch. 22 Pt. V.
F47Words repealed by Finanace Act 1973 (c. 51), Sch. 22 Pt. V.
F48Word substituted by Finance Act 1963 (c. 25), s. 62(4)
Textual Amendments
F49S. 84 repealed by Finance Act 1963 (c. 25), s. 73(8)(b), Sch. 14 Pt. IV
Textual Amendments
F50S. 85 repealed by Customs and Inland Revenue Act 1893 (c. 7), s. 4(2)
Textual Amendments
F51Ss. 86–89 repealed by Finance Act 1971 (c. 68), Sch. 14 Pt. VI
Textual Amendments
F52S. 90 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F53Ss. 91, 98 (1) repealed by Finance Act 1989 (c. 26, SIF 114), s. 187(1), Sch. 17 Pt. IX
Textual Amendments
F54S. 92 repealed by Finance Act 1959 (c. 58), Sch. 8 Pt. II
Textual Amendments
Textual Amendments
F56Ss. 94–97, 98(2) repealed by Finance Act 1959 (c. 58), Sch. 8 Pt. II
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F57
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F58
Textual Amendments
F57Ss. 91, 98 (1) repealed by Finance Act 1989 (c. 26, SIF 114), s. 187(1), Sch. 17 Pt. IX
F58Ss. 94–97, 98(2) repealed by Finance Act 1959 (c. 58), Sch. 8 Pt. II
Textual Amendments
F59S. 99 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. IV
Textual Amendments
Textual Amendments
F61Ss. 101–103 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. V
Textual Amendments
F62Ss. 104–106 repealed by Finance Act 1962 (c. 44), Sch. 11 Pt. V
Textual Amendments
F63Ss. 107, 108, 109(2) repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
Textual Amendments
F64Ss. 107, 108, 109(2) repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
F66(1)Where the holder of a stock certificate to bearer has been entered on the register of the local authority as the owner of the share of stock described in the certificate, the certificate shall be forthwith cancelled so as to be incapable of being re-issued to any person.
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F67
Textual Amendments
F65S. 109 extended by Finance Act 1899 (c. 9), s. 5
F66S. 109(1) extended by Finance Act 1946 (c. 64), s.56(2)
F67Ss. 107, 108, 109(2) repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
Textual Amendments
F68Ss. 110, 111(2)(3) repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
(1)For the purposes of this Act the expression “warrant for goods” means any document or writing, being evidence of the title of any person therein named, or his assigns, or the holder thereof, to the property in any goods, wares, or merchandise lying in any warehouse or dock, or upon any wharf, and signed or certified by or on behalf of the person having the custody of the goods, wares, or merchandise.
(2),(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F69
Textual Amendments
F69Ss. 110, 111(2)(3) repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V