Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1867-1868

STAMP DUTIES.
37
is required to be exhibited by 48 Geo. III. c. 149,
§ 38 ; and § 40 provides that it shall specify the
value of the estate and effects in the foimer in-
ventory. By 16 and 17 Vict c. 59, § 8, such
additional inventory shall be chargeable only with
such duty as, with the duty charged upon the
former duly stamped inventorj', shall make up the
full duty, in respect of the total amount of all the
estate and effects of the deceased specified in the
additional and former inventory. If the estate be
over-estimated, or something improperly included,
an inventory on a stamp corresponding to the
value must be exhibited, and the original inven-
tory will be allowed on affidavit as a spoiled
stamp, within six months of the recording of the
second inventory.
Personal estate which a person dying shall dispose
of by will, under authority to dispose of the same
as he shall think fit, shall be deemed personal or
movable estate of the person so dj'ing, for the
purpose of payment of inventory, probate, or ad-
ministration duty ('23 Vict. c. 15, § 4). The
duties are to be charged on the property, in respect
of which they are payable, and to be paid by the
trustees or owners to the executor.
By the 2T and 28 Vict. c. 56, §§ 4, 5, British ships
at sea, or elsewhere out of the United Kingdom,
are chargeable with the duties, unless where the
whole estate of the deceased shall not exceed £100.
Indian Government Promissory Notes, and certifi-
cates issued, or stock in lieu thereof, being assets
of a deceased person, the interest of which shall
be payable in London, registered in London, or
enfaced in India for such registration before the
death of the owner; also Indian Government Pro-
missory Notes, with coupons attached, in the same
circumstances as to registration, and certificates
issued, or stock created in lieu thereof, shall be
personal estate, and lona notabilia in England of
the deceased (23 Vict. c. 5, § 1); also any ship
or share of a ship belonging to a person deceased,
registered in the United Kingdom, although such
ship may at the time of the decease have been
at sea or out of the United Kingdom, shall be
deemed to be 'at the port where registered (27 and
28 Vict. c. 56), and liable to inventory, probate,
or administration duty.
"The inventory and additional inventory of any
person deceased, required to be exhibited and re-
corded in Scotland, shall be stamped with duty
according to the value of the property at the time
they shall be sworn to, including the proceeds
accrued to that time; and the duty, or deficient
duty, according to such value and proceeds, and
interest thereon at the rate of five per cent., shall
be a debt to her Majesty by the person making
oath to said inventory and additional inventory,
and his heirs and successors; and if such inventory
and additional inventory shall not be exhibited
and recorded, the inventory duty on all the per-
sonal or movable estate and effects of the deceased,
and interest thereon at the rate of five per cent,
from the expiry of six months after the death of
such deceased person, shall be a debt to her
Majesty by the person who shall intromit with
such personal or movable estate and effects, or any
part thereof, and his heirs and successors." (23
and 24 Vict, c. 80, § 5.)
II. Money Secoued on Heritage, &o.
The Act 23 Vict. c. 15, sect. 6, declared that
money secured on heritable property in Scotland,
and money secured by Scotch bonds in favour of
heirs and assignees, excluding executors, should be
chargeable with inventory, probate, or administra-
tion duty.
The Act 23 & 24 Vict. c. 80, was passed to regu-
late the levying and collection of this duty. Sec-
- tion 1 describes the property liable to inventory
duty under the Act of 23 Vict. c. 15; and § 8
further explains what shall be subject to duty.
Section 9 of the Act 23 and 24 Vict. c. 80, re-
peals the Act 23 Vict. c. 15, § 6, in so far as
regards probate and administration dutj' being
chargeable in respect of the property, so that now
in all circumstances such property is liable to in-
ventory duty. Section 1 is in these terms : —
" All money secured on heritable property in Scot-
land, and all raonej' secured by Scottish bonds
and other instruments, excluding executors, and
all money secured by Scottish bonds and other
instruments, the rights to which shall be taken
excluding executors, constituting the succession,
or part of the succession, of any person who shall
have died on or after the 3d April, 1860, shall
be liable to inventory duty."
Two modes ot paying the dutv are provided (23
and 24 Vict. c. 80, §§ 3 and 4):—
1. By a " special inventory " (according to a form
in the Act) of the property, to be lodged with the
Solicitor of Inland Revenue at Edinburgh, stamped
according to the amount of property. The inven-
tory stamp shall be testate or intestate according
as the stamp on the inventorj* of the personal estate
shall denote the testate or intestate rate of duty.
2. By adding the amount of the property to the
inventory of the personal estate, and paying stamp
duty upon the aggregate amount.
This second mode will generally be most advan-
tageous for the tax paj'er; and will be followed
when the interest in the heritable and movable
estate is the same, or when the heir and executor
can arrange as to payment of the dutj-. As to
both modes, it is declared that the duty is ulti-
mately to be borne by the parties proportiouallj
according to their interests in the property.
The 5th § of 23 and 24 Vict. c. 80, provides, that
the inventory duty shall be payable on the pro-
perty liable according to its value at the time the
inventory shall be sworn to, including the proceeds
accrued to that time.
It will be observed that the inventory duty on
money secured on heritage, &c., is limited to such
property constituting the succession of a person
who shall have died on or after the 3rd April,
1860 (23 and 24 Vict. c. 80, § 1); but the pro-
vision for valuing property at the date of the affi-
davit to the inventory, and including the proceeds
to that time, is retrospective and universal in its
operation, applying to all inventories without re-
gard to the date of death.
III. General Observations.
In the case of a person dying domiciled in Scot-
land, having personal property in Scotland, Eng-
land, and Ireland, and money secured on heritage,
&c., duty in respect of the whole may be paid on