Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1894-1895

STAMP DUTIES, ETC.
907
Ebconveyance, Eblease, or Renunciation of any
security. See Mortgage, etc. (5).
Release or Renunciation of any property, or of
any right or interest in any property —
Upon a sale. See Conveyance on Sale.
By way of security. ' See Mortgage, etc. (5).
In any other case 10s.
Renunciation. See Reconveyance and Release.
Renunciation, Letter of. See Letter of
Allotment.
Resignation. — Principal or original instrument of
resignation, or service of cognition of heirs,
or charter or seisin of any houses, lands, or
other heritable subjects holding burgage, or
of burgage tenure 5s.
[After the 1st October 1874, by the Act 37 & 38
Vict. c. 94, § 25, the distincton is abolished
between estates in land held burgage and
estates in land held feu, in so far as regards
the conveyance relating thereto, or the com-
pletion of titles, or any of the matters or things
to which the provisions of the said Act relate.
See Note also under Writ.]
Revocation of any use or trust of any property by
any writing, not being a will 10s.
Scrip Certificate or Scrip. See Letter of
Allotment.
Security. See Marketable Security and
Mortgage, etc.
Seisin. — Instrument of seisin given upon any
charter, precept of dare constat, or precept
from Chancery, or upon any wadset, heritable
bond, disposition, apprizing, adjudication, or
otherwise of any lands or heritable subjects, 5s.
And any Notarial Instrument to be expeded
and recorded in any register of sasines 5s.
Settlement. — Any instrument, whether voluntary
or upon any good or valuable consideration,
other than a bona fide pecuniary considera-
tion, whereby any definite and certain prin-
cipal sum of money (whether charged or
chargeable on lands or other hereditaments or
heritable subjects or not, or to be laid out in
the purchase of lands or other hereditaments
or heritable subjects or not), or any definite
and certain amount of stock, or any security, is
settled or agreed to be settled in any manner
whatsoever —
For every £100, and also for any fractional part
of £100, of the amount or value of the property
settled or agreed to be settled 5s.
Exemption. — Instrument of appointment relating
to any property in favour of persons specially
(1.) Within fourteen days after it has been given,
on payment of the duty and a penalty of £5.
(2.) After fourteen days, but within one month,
after it has been given, on payment of the
duty and a penalty of £10, and shall not in
any other case be stamped with an impressed
stamp.
Penalty for offences. — § 103. If any person —
(1.) Gives a receipt liable to duty and not duly
stamped ; or
(2.) In any case where a receipt would be liable to
duty, refuses to give a receipt duly stamped ; or
(3.) Upon a payment to the amount of £2 or
upwards, gives a receipt for a sum not amount-
ing to £2, or separates or divides the amount
paid with intent to evade the duty :
he shall incur a fine of £10.
[It is not the practice of the Board of Inland
Revenue to enforce penalty for unstamped
acknowledgments for voluntary gifts to charit-
able institutions, whether termed subscriptions
or donations.]
named or described as the objects of a power
of appointment, where duty has been duly
paid in respect of the same property upon the
settlement creating the power or the grant of
representation of any will or testamentary
instrument creating the power.
[Money in foreign or colonial currency, duty to
be calculated on the value in British currency
at current rate of exchange at date of instru-
ment. Stock- or marketable security, duty to
be calculated on average price at the date of
the instrument (§ 6).] (See Note a.)
Share Certificate — Foreign or Colonial,
Transfer by Delivery. See Marketable
Securities, etc. (6).
Share Warrant issued under the provisions of
' The Companies Act, 1867,' and Stock Cer-
tificate to bearer, a duty of an amount equal
to three times the amount of the ad valorem
stamp duty which would be chargeable on a
a. As to settlement of policy or security. — § 104 (1).
Where any money which may become due or pay-
able upon any policy of life insurance, or upon any
security not being a marketable security, is settled
or agreed to be settled, the instrument whereby
settlement is made or agreed to be made is to be
charged with ad valorem duty in respect of that
money :
Proviso as to policies. — (2.) Provided as follows —
(a.) Where, in the case of a policy of insur-
ance, no provision is made for keeping up
the policy, the ad valorem duty is to be
charged only on the value of the policy at
the date of the instrument.
(6.) If in any such case the instrument contains
a statement of the said value, and is stamped
in accordance with the statement, it is, so far
as regards the policy, to be deemed duly
stamped, unless or until it is shown that
the statement is untrue, and that the instru-
ment is in fact insufficiently stamped.
Provision for payment or transfer of money or
stock settled — Reversionary property settled — Annuity
by person in possession. — § 105. An instrument
chargeable with ad valorem duty as a settlement
in respect of- any money, stock, or security is not
to be charged with any further duty by reason of
containing provision for the payment or transfer
of the money, stock, or security, or by reason of
containing, where the money, stock, or security is
in reversion, or is not paid or transferred upon the
execution of the instrument, provision for the
payment by the person entitled in possession to
the interest or dividends of the money, stock, or
security during the continuance of such posses-
sion, of any annuity or yearly sum not exceeding
interest at the rate of £4 per centum per annum
upon the amount or value of the money, stock, or
security.
Where several instruments, one only to be charged
with ad valorem duty. — § 106 (1.) Where several
instruments are executed for effecting the settle-
ment of the same property, and the ad valorem duty
chargeable in respect of the settlement of the pro-
perty exceeds 10s., one only of the instruments is
to be charged with the ad valorem duty.
(2.) Where a settlement is made in pursuance of
a previous agreement, upon which ad valorem settle-
ment duty exceeding 10s. has been paid in respect
of any property, the settlement is not to be charged
with ad valorem settlement duty in respect of the
same property.
(3.) In each of the aforesaid cases the instru-
ments not chargeable with ad valorem duty are to
be charged with the duty of 10s.