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Stamp Act 1891

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Status:

Point in time view as at 01/02/1991.

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There are currently no known outstanding effects for the Stamp Act 1891, FIRST SCHEDULE. Help about Changes to Legislation

X1FIRST SCHEDULEU.K. Stamp Duties on Instruments

Editorial Information

X1Sch. 1 is printed with the omission of the headings repealed by enactments listed in the Chronological Table of the Statutes except for Sch. 1 amended by Finance Act 1949 (c. 47), s. 35, Sch. 8 Pt. I

Duty
£ p
AGREEMENT for a lease or tack, or for any letting.
See Lease or Tack, and section 75.
AGREEMENT for sale of property.
See Conveyance on Sale, and section 59.
. . . F1
ANNUITY, conveyance in consideration of:
See Conveyance on Sale, and section 56.
purchase of:
See Conveyance on Sale, and section 60.
. . . F2
instruments relating to, upon any other occasion:
see Bond, Covenant, &c.
. . . F1
And See section 62.
ASSIGNMENT or ASSIGNATION.
. . . F2
Upon a sale, or otherwise. See Conveyance.
ASSURANCE. See Policy.
. . . F3
. . . F4

Textual Amendments

F1Heading repealed by Finance Act 1985 (c. 54, SIF 114), ss. 85, 98(6), Schs. 24, 27 Pt. IX(2)

F3Heading repealed by Finance Act 1985 (c. 54, SIF 114), s. 98 (6), Sch. 27 Pt. IX(2)

BILL OF SALE—
Absolute. See Conveyance on Sale.
. . . F2
And see section 41.
BOND in relation to any annuity upon the original creation and sale thereof.
See Conveyance on Sale, and section 60.
BOND, COVENANT, or INSTRUMENT of any kind whatsoever:
(1) Being the only or principal or primary security for any annuity (except upon the original creation thereof by way of sale or security, and except a superannuation annuity), or for any sum or sums of money at stated periods, not being interest for any principal sum secured by a duly stamped instrument, nor rent reserved by a lease or tack:
For a definite and certain period, so that the total amount to be ultimately payable can be ascertained.The same ad valorem duty as a bond or covenant for such total amount.
For the term of life or any other indefinite period: For every 5l.,and also for any fractional part of 5l., of the annuity or sum periodically payable[F510p]
(2) Being a collateral or auxiliary or additional or substituted security for any of the above-mentioned purposes where the principal or primary instrument is duly stamped:
Where the total amount to be ultimately payable can be ascertained.The same ad valorem duty as a bond or covenant of the same kind for such total amount.
In any other case:
For every [F6£10] and also for any fractional part of [F6£10] of the annuity or sum periodically payable[F75p]
(3) . . . F8
BOND given pursuant to the directions of any Act, or of the Commissioners or the Commissioners of Customs, or any of their officers, for or in respect of any of the duties of excise or customs, or for preventing frauds or evasions thereof, or for any other matter or thing relating thereto:
. . . F9
BOND on obtaining letters of administration in . . . F10 Ireland, or a confirmation of testament in Scotland . . . F11
. . . F11
. . . F12
. . . F13
. . . F13
CONVEYANCE or TRANSFER on sale—
Of any property . . . F14
andseesections 54, 55, 56, 57, 58, 59, 60 and 61.
CONVEYANCE or TRANSFER of any kind not hereinbefore described[F1550p]
And see section 62.
COUNTERPART. See Duplicate.
COVENANT in relation to any annuity upon the original creation and sale thereof.
See Conveyance on Sale, and section 60.
COVENANT in relation to any annuity (except upon the original creation and sale thereof) or to other periodical payments.
See Bond, Covenant, &c.
. . . F16
DECLARATION of any use or trust of or concerning any property by any writing, not being a will, or an instrument chargeable with ad valorem duty as a [F17unit trust instrument][F1550p]
. . . F16
DISPOSITION of heritable property in Scotland to singular successors or purchasers.See Conveyance on Sale.
DISPOSITION of heritable property in Scotland to a purchaser, containing a clause declaring all or any part of the purchase money a real burden upon, or affecting, the heritable property thereby disponed, or any part thereof.See Conveyance on Sale, . . . F18
DISPOSITION in Scotland, containing constitution of feu or ground annual right. See Conveyance on Sale, and section 56.
DISPOSITION in Scotland of any property or of any right or interest therein not described in this schedule[F1550p]
DUPLICATE or COUNTERPART of any instrument chargeable with any duty:
Where such duty does not amount toThe same duty as the original instrument.
In any other case[F1950p]
And see section 72.
EXCHANGE or EXCAMBION—Instruments effecting:
In the case specified in section 73, see that section.
In any other case[F1550p]
. . . F20
FEU CONTRACT in Scotland. See Conveyance on Sale, and section 56.
. . . F21
LEASE or TACK—
(1) . . . F22
(2) For any definite term less than a year:
(a) Of any furnished dwelling-house or apartments where the rent for such term exceeds [F23£500][F24£1]
(b) Of any lands, tenements, or heritable subjects except or otherwise than as aforesaidThe same duty as a lease for a year at the rent reserved for the definite term.
(3) For any other definite term or for any indefinite term:
Of any lands, tenements, or heritable subjects—
Where the consideration, or any part of the consideration, moving either to the lessor or to any other person, consists of any money, stock, or security:
In respect of such considerationThe same duty as a conveyance on a sale for the same consideration.
Where the consideration or any part of the consideration is any rent:
In respect of such consideration:
If the rent, whether reserved as a yearly rent or otherwise, is at a rate or average rate:

Textual Amendments

F11Words omitted by virtue of Finance Act 1949 (c. 47), s. 35, Sch. 8 Pt. I

F12Heading repealed by Finance Act 1985 (c. 54, SIF 114), ss. 85, 98(6), Schs. 24, 27 Pt. IX(2)

F15Words substituted by virtue of Decimal Currency Act 1969 (c. 19), s. 10(1)

F16Headings repealed by Finance Act 1985 (c. 54, SIF 114), ss. 85, 98(6), Schs. 24, 27 Pt. IX(2)

F23Amount substituted by virtue of the Finance Act 1982 (c. 39, SIF 114), s. 128(3) (a)

Modifications etc. (not altering text)

C4Heading excluded by S.I. 1987/516, reg. 2(1)(2)(a)

C6Heading amended by Finance Act 1963 (c. 25), s. 56(3)

[F25If the term does not exceed 7 years or is indefiniteIf the term exceeds 7 years but does not exceed 35 yearsIf the term exceeds 35 years but does not exceed 100 yearsIf the term exceeds 100 years
£p£p£p£p
Not exceeding £5 per annumNil0.100.601.20
Exceeding £5 and not exceeding £10Nil0.201.202.40
Exceeding £10 and not exceeding £15Nil0.301.803.60
Exceeding £15 and not exceeding £20Nil0.402.404.80
Exceeding £20 and not exceeding £25Nil0.503.006.00
Exceeding £25 and not exceeding £50Nil1.006.0012.00
Exceeding £50 and not exceeding £75Nil1.509.0018.00
Exceeding £75 and not exceeding £100Nil2.0012.0024.00
Exceeding £100 and not exceeding £150Nil3.0018.0036.00
Exceeding £150 and not exceeding £200Nil4.0024.0048.00
Exceeding £200 and not exceeding £250Nil5.0030.0060.00
[F26Exceeding £250 and not exceeding £300][F26Nil][F266.00][F2636.00][F2672.00]
[F26Exceeding £300 and not exceeding £350][F26Nil][F267.00][F2642.00][F2684.00]
[F26Exceeding £350 and not exceeding £400][F26Nil][F268.00][F2648.00][F2696.00]
[F27Exceeding £400 and not exceeding £450][F27Nil][F279.00][F2754.00][F27108.00]
[F27Exceeding £450 and not exceeding £500][F2710.00][F2760.00][F27120.00]
[F27Exceeding £500: for any full sum of £50 and also for any fractional part thereof][F27Nil][F271.00][F276.00][F2712.00]]

Textual Amendments

F25Table in para. (3) substituted by Finance Act 1974 (c. 30, SIF 114), Sch. 11 para. 10(1)(3) and, amended as indicated

F26Entries substituted by virtue of Finance Act 1980 (c. 48, SIF 114), s. 95(3)(b)(4)

F27Entries substituted by virtue of Finance Act 1982 (c. 39, SIF 114), s. 128(3)(b)

(4) Of any other kind whatsoever not herein-before described[F24£2]
Andseesections 75, 76, 77 and 78.
. . . F28
MORTGAGE, BOND, DEBENTURE, COVENANT (except a marketable security otherwise specially charged with duty), and WARRANT OF ATTORNEY to confess and enter up judgment:
(1) Being the only or principal or primary security (other than an equitable mortgage) for the payment or repayment of money—
[F29Not exceeding £300[F155p]] for every £50 or part of £50 of the amount secured.
Exceeding £300
[F1510p] for every £100 or part of £100 of the amount secured
(2) Being a collateral, or auxiliary, or additional, or substituted security (other than an equitable mortgage), or by way of further assurance for the above-mentioned purpose where the principal or primary security is duly stamped:
For every [F30£200], and also for any fractional part of [F30£200], of the amount secured[F315p]
(3) Being an equitable mortgage:
For every 100l.,and any fractional part of 100l.,of the amount secured[F155p]
(4) Transfer, Assignment, Disposition, or Assignation of any mortgage, bond, debenture, or covenant (except a marketable security), or of any money or stock secured by any such instrument, or by any warrant of attorney to enter up judgment, or by any judgment:
For every [F30£200], and also for any fractional part of [F30£200], of the amount transferrred, assigned, or disponed, exclusive of interest which is not in arrear[F315p]
And also where any further money is added to the money already securedThe same duty as a principal security for such further money.
(5) Reconveyance, Release, Discharge, Surrender, Resurrender, Warrant to Vacate, or Renunciation [F32in whole or in part] of any such security as aforesaid, or of the benefit thereof, or of the money thereby secured:
For every [F30£200], and also for any fractional part of [F30£200], of the total amount or value of the money at any time secured[F315p]
And see sections 86, 87, 88 and 89.
MUTUAL DISPOSITION or Conveyance in Scotland. See Exchange or Excambion.
PARTITION or DIVISION—Instruments effecting:
In the case specified in section 73, see that section.
In any other case[F1550p]
. . . F33
. . . F34
. . . F35
. . . F36
RELEASE or RENUNCIATION of any property, or of any right or interest in any property—
Upon a sale. See Conveyance on Sale.
. . . F18
In any other case[F1550p]
RENUNCIATION. See . . . F18 Release.
. . . F37
SHARE, CERTIFICATE, FOREIGN AND COLONIAL.
See Marketable Security.
SUPERANNUATION ANNUITY. See Bond, Covenant, &c.
SURRENDER—
. . . F11
Of any . . . F11 kind whatsoever not chargeable with duty as a conveyance on sale . . . F18[F1550p]
TACK of lands, &c. in Scotland. See Lease or Tack.
TRANSFER. See Conveyance or Transfer.
. . . F38
. . . F39
GENERAL EXEMPTIONS FROM ALL STAMP DUTIES
(1) . . . F40
(2) Instruments for the sale, transfer, or other disposition either absolutely . . . F18, or otherwise of any ship or vessel, or any part, interest, share, or property of or in any ship or vessel.
(3) . . . F41
(4) Testaments, testamentary instruments, and dispositions mortis causâ in Scotland.
(5) . . . F42
(6) Instruments made by, to, or with the Commissioners of Works for any of the purposes of the Act 15 & 16 Vict. c. 28.

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