Search Legislation

Finance Act 1895

Status:

This is the original version (as it was originally enacted).

Finance Act 1895

1895 CHAPTER 16

An Act to grant certain Duties of Customs and Inland Revenue, to repeal and alter other Duties, and to amend the Law relating to Customs and Inland Revenue and to mate Provision for the Financial Arrangements of the Year.

[30th May 1895.]

Be it enactedby the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:

Part ICustoms and Excise

1Duty on tea

The duty of customs now payable on tea shall continue to be charged, levied, and paid, on and after the first day of August one thousand eight hundred and ninety-five until the first day of August one thousand eight hundred and ninety-six, on the importation thereof into Great Britain or Ireland (that is to say) :—

Tea, the pound - Fourpence.

2Addition to customs duties on special kinds of beer

(1)In addition to the duties of customs payable on and after the first day of July one thousand eight hundred and ninety-five, on beer of the descriptions called mum, spruce, or black beer, imported into Great Britain or Ireland, there shall be charged, levied, and paid, on and after the said first day of July until the first day of July one thousand eight hundred and ninety-six, the duties following (that is to say) :—

£s.d.
For every thirty-six gallons of beer where the worts thereof are or were before fermentation of a specific gravity—
Not exceeding one thousand two hundred and fifteen degrees020
Exceeding one thousand two hundred and fifteen degrees024

(2.) This section shall extend to Berlin white beer, and other preparations, whether fermented or not fermented, of a character similar to mum, spruce, or black beer.

3Addition to customs duty on all other beer

In addition to the duties of customs payable on and after the first day of July one thousand eight hundred and ninety-live, on every description of beer (other than is specified in the last preceding section) imported into Great Britain or Ireland, there shall be charged, levied, and paid, on and after the said first day of July until the first day of July one thousand eight hundred and ninety-six, the duty following (that is to say) :—

£s.d.
For every thirty-six gallons where the worts thereof were before fermentation of a specific gravity of one thousand and fifty-five degrees006

and there shall be allowed and paid in and for the same period in respect of all such beer a similar addition to the drawback granted on exportation, shipment for use as stores, or removal to the Isle of Man, by section four of the Customs and Inland Revenue Act, 1881. And so, as to both duty and drawback, in proportion for any difference in gravity.

4Addition to excise duty on beer

In addition to the duty of excise payable on and after the first day of July one thousand eight hundred and ninety-five in respect of beer brewed in the United Kingdom, there shall be charged, levied, and paid, on and after that day until the first day of July one thousand eight hundred and ninety-six—

For every thirty-six gallons of worts of a specific gravity of one thousand and fifty-five degrees, the duty of sixpence, and so in proportion for any difference in quantity or gravity.

5Addition to excise drawback on beer

In addition to the drawback of excise otherwise payable in respect of beer exported from the United Kingdom as merchandise or shipped for use as ship's stores, there shall be allowed and paid in respect of beer brewed in the United Kingdom between the thirtieth day of June one thousand eight hundred and ninety-five and the first day of July one thousand eight hundred and ninety-six—

For every thirty-six gallons of beer of an original gravity of one thousand and fifty-five degrees, the drawback of sixpence, and so in proportion for any difference in quantity or gravity.

6Regulations for and allowance on exportation of methylated spirits

Regulations of the Commissioners of Inland Revenue, under section one hundred and fifty-nine of the Spirits Act, 1880, may regulate the removal for exportation of methylated spirits, and where spirits used for methylation are removed from a place of methylation and exported in accordance with those regulations, there shall be paid to the exporter an allowance of twopence for every gallon of such spirits, computed at hydrometer proof, and subsection three of section three of the Customs and Inland Revenue Act, 1885, shall apply, as if the spirits were exported and the allowance made in pursuance of that section.

7Extension of 39 & 40 Vict. c.36 s.119 as to time for payment of drawback to other allowances and drawbacks

After the thirty-first day of December one thousand eight hundred and ninety-five, section one hundred and nineteen of the Customs Consolidation Act, 1876 (which limits the time for the payment of a drawback on the exportation of goods), shall extend to the payment of any allowance in respect of spirits exported, used, or deposited, which is payable under section three of the Customs and Inland Revenue Act, 1885, as amended by section twenty-one of the Revenue Act, 1889, and to an allowance in respect of methylated spirits exported which is payable under this Act, and to the payment of any drawback of excise which is allowed on the exportation of any goods, in like manner as if it were in terms made applicable thereto, and the date of user or deposit were the date of shipment.

8Amendment of 43 & 44 Vict. c.24 ss.74 and 95 as to removal of spirits for exportation or ship's stores

Spirits to which any sweetening or colouring matter or any other ingredient has been added in warehouse, and spirits warehoused by a rectifier of spirits for exportation or ship's stores, and British liqueurs, may, if bottled and packed in cases when delivered from a warehouse, be removed, notwithstanding anything in sections seventy-four and ninety-five of the Spirits Act, 1880, to another warehouse for exportation or ship's stores.

Part IIStamps

9Repeal of an exemption from stamp duty on receipts

—(1.) Exemption numbered eight under the head " Receipt " in the First Schedule to the Stamp Act, 1891, is hereby repealed; and the duty shall be charged as if the exemption had not been contained in that schedule; provided that neither the name of a banker (whether accompanied by words of receipt or not) written in the ordinary course of his business as a banker upon a bill of exchange or promissory note duly stamped, nor the name of the payee written upon a draft or order, if payable to order, shall constitute a receipt chargeable with stamp duty. (2.) This section shall take effect as from the first day of July one thousand eight hundred and ninety-five.

10Repeal of stamp duty on M.D. degree in Scotland

The duty imposed by the Stamp Act, 1891, upon the admission of any person to the degree of doctor of medicine in either of the universities in Scotland, shall cease to be payable.

11Reduction of duty on powers of attorney for transfer of small sums of Government stock

The stamp duty on a letter or power of attorney for the sale, transfer, or acceptance of any government or parliamentary stocks or funds shall be—

Where the nominal amount of the stocks or funds does not exceed 100l.s.d.
26

12Collection of stamp duty in cases of property vested by Act or purchased under statutory power

Where after the passing of this Act, by virtue of any Act, whether passed before or after this Act, either—

(a)any property is vested by way of sale in any person; or

(b)any person is authorised to purchase property;

such person shall within three months after the passing of the Act, or the date of vesting, whichever is later, or after the completion of the purchase, as the case may be, produce to the Commissioners of Inland Revenue a copy of the Act printed by the Queen's printer of Acts of Parliament or some instrument relating to the vesting in the first case, and an instrument of conveyance of the property in the other case, duly stamped with the ad valorem duty payable upon a conveyance on sale of the property; and in default of such production, the duty with interest thereon at the rate of five per cent. per annum from the passing of the Act, date of vesting, or completion of the purchase, as the case may be, shall be a debt to Her Majesty from such person.

13Extension of 54 & 55 Vict. c.39 s.98 to policies of insurance for sickness

Whereas section ninety-eight of the Stamp Act, 1891, provides that " a policy of insurance against, accident " includes a notice or advertisement in a newspaper or other publication which purports to insure the payment of money upon the death of or injury to the holder or bearer of the newspaper or publication from accident, and doubts have arisen as to the like notices or advertisements in other cases, it is hereby for the removal of doubts declared that " a policy of insurance for any payment agreed " to be made during the sickness of any person or his incapacity " from personal injury" within the meaning of the Stamp Act, 1891, includes a notice or advertisement in a newspaper or other publication which purports to insure such payment.

14Amendment of 54 & 55 Vict. c.39 as to the payment of stamp duty on certain foreign securities

Where foreign securities within the meaning of sections eighty-two and eighty-three of the Stamp Act, 1891, are issued in the United Kingdom, and the interest thereon is not payable in the United Kingdom, and such evidence of the amount of the securities as the Commissioners of Inland Revenue require is produced to them, then the Commissioners, if in their discretion they consider it expedient to do so, may accept payment of the amount of stamp duty which would be payable if all the said securities were duly stamped, and on such payment may dispense with the necessity of the securities being stamped. The Commissioners shall give notice in the London Gazette of any such dispensation.

15Abolition of limit of time for mitigating penalties under 54 & 55 Vict. c.39 b.15

So much of section fifteen of the Stamp Act, 1891, as limits the time within which the Commissioners of Inland Revenue may mitigate or remit any penalty payable on stamping shall be repealed.

16Extension to companies of 46 & 47 Vict. c.52 s.144 as to exemption from stamp duty

Section one hundred and forty-four of the Bankruptcy Act, 1883 (which exempts from stamp duty certain documents relating to the estates of bankrupts and to bankruptcies), shall apply to the estates of companies wound up by order of the Court under the Companies Winding-up Act, 1890, and to such winding up, in like manner as if the company were a bankrupt and the winding up were a bankruptcy ; and proceedings under section fifteen of the latter Act shall for this purpose be part of the proceedings in the winding up.

Part IIIIncome Tax

17Grant of duty of income tax, and application of Acts

—(1.) There shall be charged, levied, and paid for the year which began on the sixth day of April one thousand eight hundred and ninety-five, in respect of all property profits and gains respectively described or comprised in the several Schedules A., B., C, D., and E. in the Income Tax Act, 1853, the following duties of income tax (that is to say) :—

For every twenty shillings of the annual value or amount of property profits and gains chargeable under the said Schedules A., C., D., or E., the duty of eightpence ; and

For every twenty shillings of the annual value of the occupation of lands tenements hereditaments and heritages chargeable under the said Schedule B., the duty of threepence. (2.) All such enactments relating to income tax as were in force on the fifth day of April one thousand eight hundred and ninety-five shall have full force and effect with respect to the duties of income tax hereby granted, so far as those enactments are consistent with this Act.

18Assessment of income tax under Schedules A and B, and of the inhabited house duty for the year 1895-6

—(1.) The annual value of any property which has been adopted for the purpose of income tax under Schedules A. and B. in the Income Tax Act, 1853, or for the purpose of inhabited house duty during the year which began on the sixth day of April one thousand eight hundred and ninety-four, shall be taken as the annual value of such property for the same purpose during the year which began on the sixth day of April one thousand eight hundred and ninety-five: Provided that this section—

(a)so far as respects the duty on inhabited houses in Scotland, shall be construed with the substitution of the twenty-fifth day of May for the sixth day of April; and

(b)shall not apply to the metropolis as defined by the Valuation (Metropolis) Act, 1869. (2.) The inspectors or surveyors of taxes shall be the assessors of the income tax under the said Schedules A. and B., and of the house duty.

Part IVMiscellaneous

19Repeal

The Act mentioned in the schedule to this Act is hereby repealed, to the extent in the third column of that schedule mentioned.

20Short title

This Act may be cited as the Finance Act, 1895.

ScheduleEnactments Repealed

Session and Chapter.Short Title.Extent of Repeal.
54 & 55 Vict. c. 39.The Stamp Act, 1891.In section fifteen, the words " at any time within three " months after the first " execution of any instrument " ; in the Schedule, under the head " Admission " from " admission " of any person to the " degree" down to " sections 18 and 19," where they next occur, and under the head " Receipt " from " receipt written upon a bill " of exchange" down to " Accountant-General of the " Navy."

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources