Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1892-1893

STAMP DUTIES, ETC.
(See Note a.) [Composition for stamp duty by
County Councils, Corporations, and Companies,
conveyance or transfer made for effectuating the
appointment of a new trustee is not to be charged
with any higher duty than 10s.
a. Meaning of 'conveyance on sale.' 1 — § 54. For
purposes of Act the expression 'conveyance on
sale' includes every instrument, and every decree
or order of any court or of any commissioners,
whereby any property, or any estate or interest
in any property, upon the sale thereof, is trans-
ferred to or vested in the purchaser, or any other
person on his behalf or by his direction.
Sow ad valorem duty to be calculated in respect of
stock and securities. — § 55 (1.) Where the con-
sideration, or any part of the consideration, for a
conveyance on sale consists of any stock or market-
able security, the conveyance is to be charged
with ad valorem duty in respect of the value of
the stock or security.
(2.) Where the consideration, or any part of the
consideration, for a conveyance on sale consists of
any security not being a marketable security, such
conveyance is to be charged with ad valorem duty
in respect of the amount due on the day of the date
thereof for principal and interest upon the security.
[§ 6 (1.) (a.) Money in foreign or colonial cur-
rency, or (6.) stock or marketable security. —
Duty to be calculated on value at date of
instrument of money in British currency at
current rate of exchange or of stock, etc., at
average price thereof.]
How consideration, consisting ofperiodicalpayments,
to be charged. — § 56 (1.) 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.
(2.) 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 in perpetuity, or for
any indefinite period not terminable with life, the
conveyance is to be charged in respect of that con-
sideration 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.
(3.) 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.
(4.) Provided that no conveyance on sale charge-
able with ad valorem duty in respect of any period-
ical payments, and containing also provision for
securing the payments, is to be charged with any
duty in respect of such provision, and no separate
instrument made in that case for securing the pay-
ments is to be charged with any higher duty than
10s.
How conveyance in consideration of a debt, or sub-
ject to future payment, etc., to be charged. — § 67.
Where any property is conveyed to any person in
consideration, wholly or in part, of any debt due
to him, or subject either certainly or contingently
to the payment or transfer of any money or stock,
whether being or constituting a charge or encum-
brance upon the property or not, the debt, money,
§ 115. — (1.) Any County Council, corporation, or
company may enter into agreement with commis-
or stock is to be deemed the whole or part, as the
case may be, of the consideration in respect whereof
the conveyance is chargeable with ad valorem duty.
Property conveyed in separate parts, but sold for
one price for the whole.— -§ 58 (1.) Where property
contracted to be sold for one consideration for the
whole, is conveyed to the purchaser in separate
parts or parcels by different instruments, the con-
sideration is to be apportioned in such manner as
the parties think fit, so that a distinct consideration
for each sepai-ate part or parcel is set forth in the
conveyance relating thereto, and such conveyance
is to be charged with ad valorem duty in respect of
such distinct consideration.
One price and purchase for two or more persons. —
(2.) Where property contracted to be purchased
for one consideration for the whole by two or more
persons jointly, or by any person for himself and
others, or wholly for others, is conveyed in parts
or parcels by separate instruments to the persons
by or for whom the same was purchased for distinct
parts of the consideration, the conveyance of each
separate part or parcel is to be charged with ad
valorem duty in respect of the distinct part of the
consideration therein specified.
Where several instruments, the principal instru-
ment only to be charged with ad valorem duty. — (3.)
Where there are several instruments of convey-
ance for completing the purchaser's title to the
property sold, the principal instrument of convey-
ance only is to be charged with ad valorem duty,
and the other instruments are to be respectively
charged with such other duty as they may be
liable to, but the last-mentioned duty shall not
exceed the ad valorem duty payable in respect of
the principal instrument.
Sub-sales before conveyance. — (4.) Where a person
having contracted for the purchase of any property,
but not having obtained a conveyance thereof, con-
tracts to sell the same to any other person, and the
property is in consequence conveyed immediately
to the sub-purchaser, the conveyance is to be
charged with ad valorem duty in respect of the con-
sideration moving from the sub-purchaser. (5.)
Where a person having contracted for the purchase
of any property, but not having obtained a con-
veyance, contracts to sell the whole or any part or
parts thereof to any other person or persons, and
the property is in consequence conveyed by the
original seller to different persons in parts or
parcels, the conveyance of each part or parcel is to
be charged with ad valorem duty in respect only of
the consideration moving from the sub-purchaser
thereof, without regard to the amount or value of
the original consideration.
Sub-purchaser obtaining a conveyance from original
seller in addition to conveyance from first purchaser.
— (6.) Where a sub-purchaser takes an actual con-
veyance of the interest of the person immediately
selling to him, which is chargeable with ad valorem
duty in respect of the consideration moving from
him, and is duly stamped accordingly, any con-
veyance to be afterwards made to him of the same
property by the original seller shall be chargeable
only with such other duty as it may be liable to,
but the last-mentioned duty shall not exceed the
ad valorem duty.
Certain contracts or agreements on sale chargeable
as conveyances on sale. — § 59 (1.) Any contract or
agreement, with or without clause of registration,
for the sale of any equitable estate or interest in
any property whatsoever, or for the sale of any
estate or interest in any property, excejjt lands or