http://www.legislation.gov.uk/ukpga/Vict/54-55/39/section/56/1991-02-01Stamp Act 1891An Act to consolidate the Enactments granting and relating to the Stamp Duties upon Instruments and certain other enactments relating to Stamp Duties.texttext/xmlenStatute Law Database2020-10-051991-02-01 Part II Regulations applicable to Particular Instruments Conveyances on Sale How consideration consisting of periodical payments to be charged.561Where 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.2Where 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.3Where 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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S. 56(4) repealed by Finance Act 1971 (c. 68), Sch. 14 Pt. VI
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<Title> Regulations applicable to Particular Instruments</Title>
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<Title> How consideration consisting of periodical payments to be charged.</Title>
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<Text>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.</Text>
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<Text>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.</Text>
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<Text>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.</Text>
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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
<CommentaryRef Ref="c5969441"/>
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<Text>
<CitationSubRef id="c00427" URI="http://www.legislation.gov.uk/id/ukpga/Vict/54-55/39/section/56/4" SectionRef="section-56-4">S. 56(4)</CitationSubRef>
repealed by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1971/68" id="c00428" Year="1971" Class="UnitedKingdomPublicGeneralAct" Number="68" Title="Finance Act 1971">Finance Act 1971 (c. 68)</Citation>
,
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</Text>
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