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

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STAMP DUTIES, ETC.
[Lea.se or Tack, Agreement for.]
(See Note a.)
a. Agreements for leases for not more than thirty-
fioe years, or indefinite term, to be charged as leases. —
§ 75 (1.) An agreement for a lease or tack, or with
respect to the letting of any lands, tenements, or
heritable subjects, for any term not exceeding
thirty-five years, or for any indefinite term, is to
be charged with the same duty as if it were an
actual lease or tack made for the term and con-
sideration mentioned in the agreement. (2.) A
lease or tack made subsequently to, and in con-
formity with, such an agreement duly stamped, is
to be charged with the duty of 6d. only.
Leases in respect of produce or other goods, ad
valorem duty on value stipulated or value according
to rate of conversion. — § 76 (1.) Where the con-
sideration, or any part of the consideration, for
which any lease or tack is granted or agreed to
be granted, consists of any produce or other
goods, the value of the produce or goods is to be
deemed a consideration in respect of which the
lease or tack or agreement is chargeable with ad
valorem duty. (2.) Where it is stipulated that
the value of the produce or goods is to amount at
least to, or is not to exceed, a given sum, or where
the lessee is specially charged with, or has the
option of paying after, any permanent rate of
conversion, the value of the produce or goods is,
for the purpose of assessing the ad valorem duty, to
be estimated at the given sum, or according to the
permanent rate.
Statement of value conclusive until shown to be in-
correct. — (3.) A lease or tack or agreement made
either wholly or partially for any such considera-
tion, if it contains a statement of the value thereof,
and is stamped in accordance with such statement,
is, so far as regards the subject matter of such
statement, to be deemed duly stamped, unless or
until it is otherwise shown that such statement is
incorrect, and that it is in fact not duly stamped.
No duty in respect of penal rent or in consideration
of surrender of existing lease. — § 77 (1.) A lease
or tack, or agreement for a lease or tack, or with
respect to any letting, is not to be charged with
any duty in respect of any penal rent, or increased
rent in the nature of a penal rent, thereby reserved
or agreed to be reserved or made payable, or by
reason of being made in consideration of tho surren-
der or abandonment of any existing lease, tack, or
agreement of or relating to the same subject matter.
Lease liable to ad valorem duty not liable for sub-
stantial improvements by lessee as a further con-
sideration. — (2.) A lease made for any considera-
tion in respect whereof it is chargeable with ad
valorem duty, and in further consideration either
of a covenant by the lessee to make, or of his
having previously made, any substantial improve-
ment of or addition to the property demised to
him, or of any covenant relating to the matter of
the lease, is not to be charged with any duty in
respect of such further consideration. (5.) Instru-
ment whereby rent reserved by any other instru-
ment chargeable with duty and duly stamped as
a lease is increased, only to be charged in respect
of increase.
Lease for one year of dwelling-house, etc., rent
at rate not exceeding £10, and furnished house for
less than year, and also duplicate, may be denoted
by adhesive stamp.— § 78 (1) The duty upon an
instrument chargeable with duty as a lease or
tack of— (a.) Any dwelling-house, or part of a
dwelling-house, for a definite term not exceeding
a year, at a rent not exceeding the rate of £10 per
annum; or (6.) any furnished dwelling-house or
Letter of Allotment or Lefter op Renuncia-
tion, or any other document having the effect
of a letter of allotment :
(1.) Of any share of any company or proposed
company Id.
(2.) In respect of any loan raised, or proposed to be
raised, by any company or proposed company,
or by any municipal body or corporation. ..Id.
(3.) Issued or delivered in the United Kingdom,
of any share of any foreign or colonial com-
pany or proposed company, or in respect of
any loan raised or proposed to be raised by
or on behalf of any foreign or colonial state,
government, municipal bodj T , corporation, or
company Id.
And Scrip Certificate, Scrip, or other docu-
ment :
(1.) Entitling any person to become the pro-
prietor of any share of any company or pro-
posed company Id.
(2.) Issued or delivered in the United Kingdom,
and entitling any person to become the pro-
prietor of any share of any foreign or colonial
company or proposed company .Id.
(3.) Denoting, or intended to denote, the right of
any person as a subscriber in respect of any
loan raised or proposed to be raised by any
company or proposed company, or by any
municipal body or corporation Id.
(4.) Issued or delivered in the United Kingdom,
and denoting, or intended to denote, the right
of any person as a subscriber in respect of any
loan raised or proposed to be raised by, or on
behalf of, any foreign or colonial state, govern-
ment, municipal body, corporation, or com-
pany Id.
(See Note b.)
Letter of Credit. See Bill, and § 32 in Note.
Letter or Power of Attorney, and Commission,
Factory, Mandate, or other instrument in
the nature thereof :
(1.) For the sole purpose of appointing or autho-
rizing a proxy to vote at any one meeting at
which votes may be given by proxy, whether
the number of persons named in such instru-
ment be one or more Id.
(2.) By any petty officer, seaman, marine, or
soldier serving as a marine, or his representa-
tives, for receiving prize-money or wages. ..Is.
(3.) For the receipt of the dividends or interest
of any stock :
apartments, for any definite term less than a year ;
and upon the duplicate or counterpart of any such
instrument, may be denoted by an adhesive stamp,
which is to be cancelled by the person by whom
the instrument is first executed.
Lf above leases not duly stamped at or before
execution, penalty on person who executes or pre-
pares, £5. — (2.) Every person who executes, or
prepares or is employed in preparing, any such
instrument (except letters or correspondence)
which is not, at or before the execution thereof,
duly stamped, shall incur a fine of £5.
b. As to Letters of Allotment or Renuncia-
tion, Scrip Certificates, and Scrip.
§ 79 (1.) Every person who executes, grants,
issues, or delivers out any document chargeable
with duty as a letter of allotment, letter of re-
nunciation, or scrip certificate, or as scrip, before
the same is duly stamped, shall incur a fine of
£20. (2.) The duty of one penny on a letter of
renunciation may be denoted by an adhesive
stamp, which is to be cancelled by the person by
whom the letter of renunciation is executed.