Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1870-1871

22
STAMP DUTIES.
Policy of Insurance, whereby any sum of money
shall be assured to be paid as and for loss or dam-
age or compensation for or indemnity against loss
or damage arising from or consequent upon the
happening of any accident (23 and 24 Vict.
c. Ill): —
If the premium or consideration of such assurance
shall not exceed 2s. 6d., - - - Id.
Exceeding 2s. 6d. and not exceeding 5s., 3d.
Exceeding 5s., then for every 5s. and every
fractional part of 5s., - 3d.
If the insurance shall be made on such terms that
these rates cannot be applied, then there shall be
charged upon the policy, in respect of the amount
of the sum insured, the same rate of stamp duty
as on a policy of life insurance (28 and 29 Vict,
c. 96, § 10).
[Accidental Death policy not to be chargeable
as a life policy. The above not to repeal or
alter the duties payable under 12 and 13 Vict,
by the Railway Passengers Assurance Company
(28 and 29 Vict. c. 96, § 11). For preventing
frauds, 16 and 17 Vict. c. 59, § 6, to apply to
these duties, and also to all other duties on policies
of insurance, excepting Sea Insurance, imposed by
28 and 29 Vict. c. 96. And further, if any person
shall make, sign, or deliver out a policy not duly
stamped, he shall forfeit £20. The managing
directors, secretary, or other principal officer of an
insurance company, as well as the company, shall
be liable to the penalty. — lb. 13.]
[" Policy " shall mean and include any agreement
or other instrument, by whatever name the same
shall be called, whereby any insurance shall be
made or agreed to be made. — lb. § 14.]
5. FOREIGN INSURANCES.
Foreign Policiks for a person carrying on the
business of insurance within the United Kingdom,
or by which any loss or damage or sum of money
shall be payable or recoverable in the United
Kingdom upon the happening of any contingency,
are liable to the same stamp duties as policies
made in the United Kingdom. May be stamped
within two months after being received in the
United Kingdom, but cannot be stamped after-
wards (28 and 29 Vict. c. 96, § 15).
Joint-Stock Companies. See Deed.
Leases. See Agreement.
Leases of Lands or Heritable Subjects :—
*
f
i
s.
d.
£
s.
d.
£
s. d.
Pent not exceeding. . .£5

6

3


6
A bove £5 and not ab. 10
1


6


12
" 10 " 15
1
6

9


18
" 15 " 20
2


12

1
4
" 20 " 25
2
6

15

1
10
" 25 " 50
5

1
10

3

" 50 " 75
7
6
2
5

4
10
" 75 " 100
10

3


6

Where the same shall
escsed £100, then for
every £50, and for any
fractional part of £50..
5

1
10

3

* Term not exceeding 35 years.
■J Above 35, but not above 100 years
% Exceeding 100 years.
As to the duties in the first column, if the rent be
under £20, and if money, by way of fine, or gras-
sum, be paid — the same duty as on a conveyance
on sale; if the rent be above £20, both the lease
duty and conveyance on sale duty. In the case
of a lease to which the second and third columns
apply, where there is a fine or grassum, and what-
ever the amount of rent — both the ad valorem
lease duty and conveyance on sale dutv (13 and
14 Vict. c. 97; and 17 and 18 Vict. c. 83).
Lease for less than a year, at a rent reserved or
payable, shall be chargeable with the same ad
valorem duty as a lease, at a yearly rent of the
same amount as the sum so reserved or payable
(17 and 18 Vict. c. 83, § 23).
Lease of a furnished dwelling-house for less than a
year, where the rent for such period shall exceed
£25 (24 and 25 Vict. c. 21), - - 2s. 6d.
If the stamp be adhesive, it must be duly cancelled.
Lease of a dwelling-house or tenement, or of part of
such, for less than a year, at a rent payable weekly
or monthly, and not exceeding the rate of 3s. 6d.
a- week (28 and 29 Vict. c. 96, § 5), - - Id.
Lease of any mine or minerals or other property of
a like nature, with or without other lands or heri-
table subjects, ' where any portion of the produce
shall be paid in money or kind ' —
If it be stipulated that the value shall amount to a
given sum per annum, or if it be ' limited' not to
exceed a given sum, to be specified, then the ad
valorem duty shall be charged in respect of the
highest of such sums.
And where ' any yearly sum' is reserved in addition
to or with such produce, relative to the yearly
value of which there is no such limitation, the ad
valorem duty shall be charged in respect of such
yearly sum.
And where both a ' certain yearly sum ' and also
' such produce ' relative to the yearly value of
which there shall be such limitation, are reserved,
the ad valorem duty shall be charged on the aggre-
gate of such yearly sum, and also of the highest
yearly value of such produce.
[Where a grassum or rent is in grain, it is to be
charged according to the stipulated rate of conver-
sion ; and if none be stipulated, according to the
fiars on an average of seven years. Where there
are separate grassums or rents payable to separate
pro indiviso proprietors in the same deed, the
stamp is on the cumulo amount.]
Leases under the Dwelling- Houses Act, 18 and 19
Vict. c. 88, and transfers thereof, may have the
duty impressed on paper, or denoted by special
adhesive stamp (18 and 19 Vict. c. 88, § 21).
Lease of any kind, not otherwise charged, £1 15a,
Assignment or surrender of a lease upon any other
occasion than a sale or mortgage, including a lease
for a term of years exceeding 35 (23 and 24 Vict,
c. Ill) — A duty equal to the ad valorem duty
with which a similar lease would be chargeable,
but no higher duty than £1 15s., shall be charged.
And no duty, except the ad valorem duty, shall be
chargeable for any lease, expressed to be granted
in consideration of the surrender of an existing
lease and also of money.
Letter of Allotment. See Allotment.