Taxation Act 1696

XI. Allowance £10 per Cent. on prompt Payment of Duty for Stock in Hand.

Valuation of Stock, in case of Dispute, estimated by Oath of Owners.; In case of apparent Fraud,; Proceedings.

Provided always That if any such Person or Persons Bodies Politick or Corporate Chargeable for such Stock shall pay or cause to be paid his or their Duties the said Eleaventh Day of March One thousand six hundred ninety six hee she or they shall be allowed for such prompt Payment after the Rate of Ten Pounds per Centum per Annum for every Su[m]m so to be paid for the same time of Three Months But in case any Dispute or Controversie shall arise touching the Valuation of any such Stock of Paper Parchment Vellum or Pastboard in all such Cases the same shall be esteemed by the Oath of the Owner or Owners to be made and taken in Writing before any of His Majesties Justices of Peace as aforesaid and to be delivered to the said Officer or Officers who shall hereby have Power (if hee thinks the King to bee apparently defrauded thereby) to take such Goods att the Value specified in such Affidavitt paying downe Ready Money to the Owner for the same which Ready Money so paid downe shall be allowed upon the Accounts to be made to His Majesty for the Duties aforesaid And the Goods in such Cases shall be sold and disposed of for His Majesties best Advantage and Profitt.