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- Point in Time (01/02/1991)
- Original (As enacted)
Version Superseded: 27/07/1999
Point in time view as at 01/02/1991.
There are currently no known outstanding effects for the Finance Act 1974, SCHEDULE 11.
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Section 49.
Modifications etc. (not altering text)
C1The text of Sch. 11 (except paras. 1, 11) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
1(1)This Part of this Schedule, except paragraphs 6 and 7 shall be deemed to have had effect as from 1st may 1974 ; and paragraphs 6(1) and (7) shall have effect as from 1st August 1974.
(2)This Part of this Schedule shall not extend to Northern Ireland.
(3)The Commissioners may make such arrangements operating for such periods as they think proper for the charge of duty on any instrument giving effect to a stock exchange transaction (as defined in section 4 of the M1Stock Transfer Act 1963) in respect of which settlement was due before 2st May 1974 to be the same as if this Act had not been passed, and any instrument stamped in accordance with such arrangements shall be deemed to be duly stamped for all purposes.
Marginal Citations
2
Textual Amendments
3-4
Textual Amendments
5
Textual Amendments
6–8
Textual Amendments
9In the heading “Duplicates or Counterpart of any instrument chargeable with any duty” in Schedule 1 to the Stamp Act 1891 (same duty as original instrument if that is less than 5s., otehrwise duty of 5s.), for “5s.” in both places (to be read under the Decimal Currency Act 1969 as 25p) substitute “ 50p ”.
10(1)The heading “Lease or Tack” in Schedule 1 to the M2Stamp Act 1891 shall be amended as follows.
(2)The duty chargeable under paragraph (2)(a) and paragraph (4) shall be £1 and £2 respectively (instead of 50p and £1 as provided by section 56(2) of the M3Finance Act 1963), and the rates of duty specified in the said paragraphs (2)(a) and (4) shall be amended accordingly.
(3)For the table set out in paragraph (3), as substituted by section 56(1) of the Finance Act 1963 and amended by section 125(3) of the M4Finance Act 1972, substitute—
If the term does not exceed 7 years or is indefinite | If the term exceeds 7 years but does not exceed 35 years | If the term exceeds 35 years but does not exceed 100 years | If the term exceeds 100 years | |
---|---|---|---|---|
£p | £p | £p | £p | |
Not exceeding £5 per annum. | Nil | 0.10 | 0.60 | 1.20 |
Exceeding £5 and not exceeding £10. | Nil | 0.20 | 1.20 | 2.40 |
Exceeding £10 and not exceeding £15. | Nil | 0.30 | 1.80 | 3.60 |
Exceeding £15 and not exceeding £20. | Nil | 0.40 | 2.40 | 4.80 |
Exceeding £20 and not exceeding £25. | Nil | 0.50. | 3.00 | 6.00 |
Exceeding £25 and not exceeding £50. | Nil | 1.00 | 6.00 | 12.00 |
Exceeding £50 and not exceeding £75. | Nil | 1.50 | 9.00 | 18.00 |
Exceeding £75 and not exceeding £100. | Nil | 2.00 | 12.00 | 24.00 |
Exceeding £100 and not exceeding £150. | Nil | 3.00 | 18.00 | 36.00 |
Exceeding £150 and not exceeding £200. | Nil | 4.00 | 24.00 | 48.00 |
Exceeding £200 and not exceeding £250. | Nil | 5.00 | 30.00 | 60.00 |
Exceeding £250 and also for any fraction part thereof. | 0.50 | 1.00 | 6.00 | 12.00 |
11(1)This Part of this Schedule shall have effect as from 1st August 1974.
(2)This Part of this Schedule shall not extend to Great Britain.
(3)The Commissioners may make such arrangements operating for such period as they think proper for the charge of duty on any instrument giving effect to a stock exchange transaction (as defined in section 4 of the M5Stock Transfer Act (Northern Ireland) 1963) in respect of which settlemtn was due before 1st August 1974 to be the same as this Act had not been passed, and any instrument stamped in accordance with such arrangements shall be deemed to be duly stamped for all purposes.
Marginal Citations
12
Textual Amendments
13 - 14
Textual Amendments
F6Sch. 11 Pt. II paras. 13, 14 repealed by Finance Act 1984 (c. 43, SIF 114), Sch. 23, Pt. X
15
Textual Amendments
16
Textual Amendments
F8Sch. 11 Pt. II paras. 16, 17 repealed by Finance Act 1976 (c. 40), Sch. 15 Pt. VI
18In the heading “Duplicate or Counterpart of any instrument chargeable with any duty” in Schedule 1 to the M6Stamp Act 1891 (same duty as on original instrument if that is less than 5s., otherwise duty of 5s.), for “5s.” in both places (to be read under the M7Decimal Currency Act 1969 as 25p) substitute “ 50p ”.
19(1)The heading “Lease or Tack” in Schedule 1 to the Stamp Act 1891 shall be amended as follows.
(2)The duty chargeable under paragraph (2)(a) and paragraph (4) shall be £1 and £2 respectively (instead of 50p and £1 as provided by section 5(2) of the M8Finance Act (Northern Ireland) 1963), and the rates of duty specified in the said paragraphs (2)(a) and (4) shall be amended accordingly.
(3)For the Table set out in paragraph (3), as substituted by section 5(1) of the Finance Act (Northern Ireland) 1963 and amended by Article 12(3) of the M9Finance (Northern Ireland) Order 1972, substitute—
If the term does not exceed 7 years or is indefinite | If the term exceeds 7 years but does not exceed 35 years | If the term exceeds 35 years but does not exceed 100 years | If the term exceeds 100 years | |
---|---|---|---|---|
£p | £p | £p | £p | |
Not exceeding £5 per annum. | Nil | 0.10 | 0.60 | 1.20 |
Exceeding £5 and not exceeding £10. | Nil | 0.20 | 1.20 | 2.40 |
Exceeding £10 and not exceeding £15. | Nil | 0.30 | 1.80 | 3.60 |
Exceeding £15 and not exceeding £20. | Nil | 0.40 | 2.40 | 4.80 |
Exceeding £20 and not exceeding £25. | Nil | 0.50. | 3.00 | 6.00 |
Exceeding £25 and not exceeding £50. | Nil | 1.00 | 6.00 | 12.00 |
Exceeding £50 and not exceeding £75. | Nil | 1.50 | 9.00 | 18.00 |
Exceeding £75 and not exceeding £100. | Nil | 2.00 | 12.00 | 24.00 |
Exceeding £100 and not exceeding £150. | Nil | 3.00 | 18.00 | 36.00 |
Exceeding £150 and not exceeding £200. | Nil | 4.00 | 24.00 | 48.00 |
Exceeding £200 and not exceeding £250. | Nil | 5.00 | 30.00 | 60.00 |
Exceeding £250 and also for any fraction part thereof. | 0.50 | 1.00 | 6.00 | 12.00 |
20—23.
Textual Amendments
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