xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
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F1Ss. 18, 19 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt.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F2S. 20 repealed by Finance Act (Northern Ireland) 1925 (c. 30) (N.I.), s. 3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F3S. 21 repealed by Finance Act 1947 (c. 35), Sch. 11 Pt.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F4S. 22 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt.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F5S. 23 repealed by Finance Act 1971 (c. 68), Sch. 14 Pt.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F6S. 24 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt.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
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Textual Amendments
F7S. 25 repealed (21.7.2008) by Statute Law (Repeals) Act 2008 (c. 12), Sch. 1 Pt. 8
Textual Amendments
F8S. 26 repealed by Finance Act 1947 (c. 35), Sch. 11 Pt. I
Textual Amendments
F9S. 27 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F10S. 28 repealed by Finance Act (Northern Ireland) 1925 (c. 30) (N.I.), s. 3
Textual Amendments
F11Ss. 29–31 repealed by Finance Act 1972 (c. 41), Sch. 28 Pt.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Ss. 29-31 expressed to be repealed (1.1.1992) by Finance Act 1991 (c. 31, SIF 114), ss. 115, 123, Sch. 19 Pt.VII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
F12Ss. 32, 33 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. V
Textual Amendments
F13S. 34 repealed by Finance Act 1961 (c. 36), Sch. 6 Pt. II
Textual Amendments
F14Ss. 35–39 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. V
Textual Amendments
F15Ss. 40, 42 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt.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
F16Ss. 40, 42 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F17S. 43 repealed by Solicitors, Public Notaries, &c., Act 1949 (c. 21), Sch. 2
Textual Amendments
F18S. 44 repealed by Solicitors Act 1932 (c. 37), Sch. 4 and Solicitors (Scotland) Act 1933 (c. 21), Sch. 3
Textual Amendments
F19Ss. 45–48 repealed by Solicitors, Public Notaries, &c., Act 1949 (c. 21), Sch. 2
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Textual Amendments
F20S. 49 repealed (21.7.2008) by Statute Law (Repeals) Act 2008 (c. 12), Sch. 1 Pt. 8
Textual Amendments
F21Ss. 49(2), 50, 51 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F22Ss. 52, 53 repealed by Finance (1909–10) Act 1910 (c. 8), Sch. 6
Textual Amendments
F23S. 54 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(2) Notes 1, 2 of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2) Notes 1, 2
(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.
[F24(1A)For the purposes of subsection (1), it is immaterial—
(a)whether, at the time of the execution of the conveyance on sale, the stock or marketable security is or has been issued or is to be issued; and
(b)in a case where the stock or marketable security is to be issued, when it is to be, or is, issued and whether the issue is certain or contingent.]
(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.
Textual Amendments
F24S. 55(1A) inserted (28.7.2000 with effect as mentioned in s. 126(3) of the amending Act) by 2000 c. 17, s. 126(2)(3)
(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). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F25
Textual Amendments
F25S. 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)
C1S. 57 explained by Finance Act 1898 (c. 10), s. 6
C2S. 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.
F26(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
[F27then, 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 [F28then, 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.
[F29(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 [F30the 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
F26S. 58(2) modified (retrospective to 28.3.2000 and with effect as mentioned in s. 129(5) and Sch. 34 para. 3(6) of the amending Act) by 2000 c. 17, s. 129(3)(5)(6), Sch. 34 para. 3(2)(6)
F27Words and ss. 58 (4)(a)(b) inserted by Finance Act 1984 (c. 43, SIF 114), s. 112(1)(4)
F28Words inserted by Finance Act 1984 (c. 43, SIF 114), s. 112(2)(4)
F29S. 58(7) inserted by Finance Act 1984 (c. 43, SIF 114), s. 112(3)(4)
F30Words substituted by Finance Act 1985 (c. 54, SIF 114), s. 82(2)
Modifications etc. (not altering text)
C3S. 58(1)(2) modified by Finance Act 1991 (c. 31, SIF 114), s.112
C4S. 58(1) modified (retrospective to 28.3.2000 and with effect as mentioned in s. 129(5) and Sch. 34 para. 3(6) of the amending Act) by 2000 c. 17, s. 129(3)(5)(6), Sch. 34 para. 3(1)(6)
C5S. 58(1) modified (11.5.2001 with effect as mentioned in s. 92(8) of the amending Act) by 2001 c. 9, s. 92, Sch. 30 para. 2(1)(4)(6); S.I. 2001/3748, art. 2
C6S. 58(2) modified (11.5.2001 with effect as mentioned in s. 92(8) of the amending Act) by 2001 c. 9, s. 92, Sch. 30 para. 2(2)-(6); S.I. 2001/3728, art. 2
S. 58(1) modified (retrospective to 23.4.2002 with application as mentioned in s.116(5) of the amending Act) by 2002 c. 23, s. 116(2), Sch. 37 para. 2(1)
S. 58(2) modified (retrospective to 23.4.2002 with application as mentioned in s. 116(5) of the amending Act) by 2002 c. 23, s. 116(2), Sch. 37 para. 2(2)
C7S. 58(3) applied (27.7.1999 with effect as mentioned as mentioned in s. 112(6) of the amending Act) by 1999 c. 16, ss. 112(3)(6), 123, Sch. 13 Pt. III para. 21(2)
Marginal Citations
Textual Amendments
F31S. 59 repealed (27.7.1999 with effect in relation to penalties in respect of things done or omitted on or after 1.10.1999) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2) Notes 1, 2
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) . . . F32
(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
F32S. 61(1)(a)(b) repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Modifications etc. (not altering text)
C8S. 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))
Textual Amendments
F33S. 62 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(2) Notes 1, 2 of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2) Notes 1, 2
Textual Amendments
F34Ss. 63–68 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F35Ss. 69–71 repealed by Finance Act 1905 (c. 4), Sch.
Textual Amendments
F36S. 72 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(2) Notes 1, 2 of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2) Notes 1, 2
Textual Amendments
F37S. 73 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(2) Notes 1, 2 of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2) Notes 1, 2
Textual Amendments
F38S. 74 repealed by Finance Act 1937 (c. 54), Sch. 6 Pt. II
Textual Amendments
F39S. 75 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(2) Notes 1, 2 of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2) Notes 1, 2
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
F42(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F41Ss. 76, 77(3)(4), 78 repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
F42S. 77(5) repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(2) Notes 1, 2 of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2) Notes 1, 2
Modifications etc. (not altering text)
C9S. 77(2) excluded by Revenue Act 1909 (c. 43), s. 8
Textual Amendments
F43Ss. 76, 77(3)(4), 78 repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
Textual Amendments
F44Ss. 79, 80 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F45S. 81 repealed by Finance Act 1917 (c. 31), s. 30(2)
Textual Amendments
F46S. 82 repealed with saving by Finance Act 1973 (c. 51), s. 59(7), Sch. 22 Pt. V
Every person who in the United Kingdom F47. . . assigns, transfers, negotiates, F48. . . any foreign security or [F49commonwealth government security not being duly stamped, shall incur [F50a penalty not exceeding £300].]
Textual Amendments
F47Words repealed by Finanace Act 1973 (c. 51), Sch. 22 Pt. V.
F48Words repealed by Finanace Act 1973 (c. 51), Sch. 22 Pt. V.
F49Word substituted by Finance Act 1963 (c. 25), s. 62(4)
F50Words in s. 83 substituted (with effect in accordance with s. 114(2) of the amending Act) by Finance Act 1999 (c. 16) s. 114(1), { Sch. 17 Pt. 1 para. 3}
Textual Amendments
F51S. 84 repealed by Finance Act 1963 (c. 25), s. 73(8)(b), Sch. 14 Pt. IV
Textual Amendments
F52S. 85 repealed by Customs and Inland Revenue Act 1893 (c. 7), s. 4(2)
Textual Amendments
F53Ss. 86–89 repealed by Finance Act 1971 (c. 68), Sch. 14 Pt. VI
Textual Amendments
F54S. 90 repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
Textual Amendments
F55Ss. 91, 98 (1) repealed by Finance Act 1989 (c. 26, SIF 114), s. 187(1), Sch. 17 Pt. IX
Textual Amendments
F56S. 92 repealed by Finance Act 1959 (c. 58), Sch. 8 Pt. II
Textual Amendments
F57S. 93 repealed with saving by Finance Act 1959 (c. 58), s. 30(6), Sch, 8 Pt. II
Textual Amendments
F58Ss. 94–97, 98(2) repealed by Finance Act 1959 (c. 58), Sch. 8 Pt. II
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F59
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F60
Textual Amendments
F59Ss. 91, 98 (1) repealed by Finance Act 1989 (c. 26, SIF 114), s. 187(1), Sch. 17 Pt. IX
F60Ss. 94–97, 98(2) repealed by Finance Act 1959 (c. 58), Sch. 8 Pt. II
Textual Amendments
F61S. 99 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. IV
Textual Amendments
F62S. 100 repealed by Finance Act 1989 (c. 26, SIF 114), ss. 173(3)(7)(8), 187(1), Sch. 17 Pt. IX
Textual Amendments
F63Ss. 101–103 repealed by Finance Act 1970 (c. 24), Sch. 8 Pt. V
Textual Amendments
F64Ss. 104–106 repealed by Finance Act 1962 (c. 44), Sch. 11 Pt. V
Textual Amendments
F65Ss. 107, 108, 109(2) repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
Textual Amendments
F66Ss. 107, 108, 109(2) repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
F68(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). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F69
Textual Amendments
F67S. 109 extended by Finance Act 1899 (c. 9), s. 5
F68S. 109(1) extended by Finance Act 1946 (c. 64), s.56(2)
F69Ss. 107, 108, 109(2) repealed by Finance Act 1963 (c. 25), Sch. 14 Pt. IV
Textual Amendments
F70Ss. 110, 111(2)(3) repealed by Finance Act 1949 (c. 47), Sch. 11 Pt. V
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Textual Amendments
F71S. 111 repealed (21.7.2008) by Statute Law (Repeals) Act 2008 (c. 12), Sch. 1 Pt. 8