‹‹‹ prev (1518)

(1520) next ›››

(1519)
STAMP DUTIES.
115
of this section shall not be used against any person
making the same in any proceeding whatever, except
in an inquiry as to the duty with which the instru-
' .ment to which it relates is chargeable; and every
: i person by whom any such declaration is made shall,
Ion payment of the duty chargeable upon the instru-
i 'ment to which it relates, be relieved from any fine
I or disability to which he may be liable, by reason of
the omission to state truly in the instrument any fact
or circumstance as aforesaid.
Persons dissatisfied may appeal. — § 13. (1.) Any
person who is dissatisfied with the assessment of the
Commissioners, may, within v^twenty-one days after
the date of the assessment, and on payment of duty
in conformity therewith, appeal against the assess-
; ment to Her Majesty's Court of Exchequer, and may
.(ifor that purpose require the Commissioners to state
■^■and sign a case, setting forth the question upon
which their opinion was required, and the assessment
imade by them.
Mode of proceeding. — (2.) The Commissioners
shall thereupon state and sign a case accordingly,
and deliver the same to the person by whom it is
required, and the case may within seven days there-
after be set down by him for hearing;
(3.) Upon the hearing of the case the court shall
determine the question submitted, and, if the instru-
ment in question is in the opinion of the court charge-
able with any duty, shall assess the duty with which
it is chargeable.
(4.) If it is decided by the court that the assess-
ment of the Commissioners is erroneous, any excess
:of duty which may have been paid in conformity
with the erroneous assessment, together with any
fine or penalty which may have been paid in con-
sequence thereof, shall be ordered by the court to be
repaid to the appellant, with or vrithout costs as the
court may determine.
(5.) If the assessment of the Commissioners is con-
tl firmed, the court may make an order for payment
to the Commissioners of the costs incurred by them
in relation to the appeal.
ESTATE DUTY
(Including the Further or " Settlement Estate Dutv,"
67 and 58 Vict. c. 30, Part I.)
Estate duty is payable on the principal value of all
property, heritable and movable, and proceeds and
ill investments thereof, settled and unsettled, which
passes on the death of a person dying after 1st
August, 1894, either immediately or after an interval,
or at a period ascertainable by reference to death,
either certainly or contingently, and either originally
or by way of substitutive limitation, including all
property: —
(a.) Of which deceased at his death was competent
to dispose;
(Jj.) In which deceased or any other person had an
interest, ceasing on death of deceased — to exterit to
which a benefit accrues thereby ; except where the
interest is as holder of an office or recipient of a
! charity ;
(c.) Taken as donationes mortis causa, or gifts
inter vivos made within a year of death, or whenever
made if immediate possession and enjoyment has not
been assumed by donee, and thenceforth retained to
[exclusion of donor or benefit to him ;
(c7.) Which deceased has transferred to himself and
any other person jointly, by disposition or otherwise,
including a pm'chase or investment alone, or in con-
cert with another, so that the beneficial interest there-
in, or in some part thereof, passes by survivorship
to such other person ;
(e.) Passing under any settlement by deed or in-
stmment not taking effect as a will, whether made
for valuable consideration or not between settler and
any other person, or any trust in writing or other-
wise whereby an interest for life, or other period de-
terminable by reference to death, is reserved expressly
or by implication to the settler, or whereby he may
have reserved the right, by the exercise of any power,
to restore to himself, or to reclaim the absolute in-
terest therein, or in proceeds thereof ;
(yi) Proceeds of life policies kept up by deceased
for benefit of a donee, whether nominee or assignee,
or part thereof in proportion to premiums paid by
him, where partially kept up ;
(£.) Annuities (other than a single annuity not
exceeding £25, or the first granted of two or more
such), or other interest purchased or provided by
deceased alone or in concert with any other, to extent
of beneficial interest accruing by survivorship or other-
wise on death of deceased ;
(A.) " Property comprised in any special assignation
or disposition taking effect on death."
PERSONS LIABLE — HOW PAYABLE — LIMITATION
OF LIABILITY.
Executor or Intromitter, Inventory. — Every person
who, as executor, nearest of kin, creditor, or other-
wise, intromits with, or enters upon the possession
or management of, any personal property wheresoever
situate, of which deceased, at his death, was com-
petent to dispose, is to pay the duty thereon, on ex-
hibiting and recording in the proper sherifi' court,
within six months of the death, an inventory (or
additional or corrective inventory) of deceased's estate
[Forms A, B, and D 1] and may pay, in like manner,
the duty on any other property passing on such death,
which, by virtue of any testamentary disposition of
the deceased, is under his control, or in the case of
property not under his control, if the persons account-
able for the duty thereon request him to make such
payment. He may state on inventory that he does
not know amount or value of certain property which
passed on the death, and undertake, as soon as ascer-
tained, to pay duty thereon, and any further duty
payable by reason thereof on the other property in
the inventory.
RATES OF ESTATE DUTY AND SETTLEMENT
ESTATE DUTY.
Where the principal value exceeds
exceed £500, . . .
Do. £500 to £1000, .
Do. £1000 to £10,000,.
Do. £10,000 to £25,000,
Do. £25,000 to £50,000,
Do. £50,000 to £75,000,
Do. £75,000 to £100,000, .
Do. £100,000 to £150,000, .
Do. £150,000 to £250,000, .
Do. £250,000 to £500,000, .
Do. £500,000 to £1,000,000,
Do. £1,000,000 and over,
£100 and does not
£1 per cent.
£2 per cent.
£3 per cent.
£4 per cent.
£4 10s. per cent.
£5 per cent.
£5 10s. per cent.
£6 per cent.
£6 10s. per cent.
£7 per cent.
£7 10s. per cent.
£8 per cent.

Images and transcriptions on this page, including medium image downloads, may be used under the Creative Commons Attribution 4.0 International Licence unless otherwise stated. Creative Commons Attribution 4.0 International Licence