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Finance Act 1999

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This is the original version (as it was originally enacted).

Part IVGeneral exemptions

24The following are exempt from stamp duty under this Schedule—

(a)transfers of shares in the government or parliamentary stocks or funds or strips (within the meaning of section 47 of the [1942 c. 21.] Finance Act 1942) of such stocks or funds;

(b)instruments for the sale, transfer, or other disposition (absolutely or otherwise) of any ship or vessel, or any part, interest, share or property of or in a ship or vessel;

(c)testaments, testamentary instruments and dispositions mortis causa in Scotland;

(d)renounceable letters of allotment, letters of rights or other similar instruments where the rights under the letter or other instrument are renounceable not later than six months after its issue.

25Stamp duty is not chargeable under this Schedule on any description of instrument in respect of which duty was abolished by—

(a)section 64 of the [1971 c. 68.] Finance Act 1971 or section 5 of the [1971 c. 27(N.I.).] Finance Act (Northern Ireland) 1971 (abolition of duty on mortgages, bonds, debentures etc.), or

(b)section 173 of the [1989 c. 26.] Finance Act 1989 (life insurance policies and superannuation annuities).

26Nothing in this Schedule affects any other enactment conferring exemption or relief from stamp duty.

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