§ Considered in Committee.
§ (In the Committee.)
§ 1. Resolved, That, on and after the 1st day of October next, the Impressed Stamp on Newspapers and other Periodical Publications shall be abolished.
§ 2. Resolved, That Newspapers to be circulated by Post within the United Kingdom shall be subject to a Postage of One Halfpenny each for each transmission, the Postage to be prepaid by Postage Stamps.
§ 3. Resolved, That the Postage on Inland Book Packets and on Inland Sample Packets shall be at the rate of One Halfpenny for every weight of Two Ounces.
§ 4. Resolved, That, towards raising the Supply granted to Her Majesty, there shall be charged and paid for and upon the several matters and things hereinafter mentioned the following Stamp Duties (that is to say):
- 1. Where the consideration, or any part of the consideration, for a Conveyance on Sale consists of money payable periodically in perpetuity, or for any indefinite period not terminable with life, such Conveyance shall be charged in respect of such consideration with ad valorem Duty on the total amount which will or may, according to the terms of Sale, be payable during the period of twenty years next after the day of the date of such Instrument;
- 2. Where the consideration, or any part of the consideration, for a Conveyance on Sale consists of money payable periodically during any life or lives, such Conveyance shall be charged in respect of such consideration with ad valorem Duty on the amount which will or may, according to the terms of Sale, be payable during the period of twelve years next after the day of the date of such Instrument;
- 3. An Agreement for a Lease or Tack, or with respect to the letting of any lands,
1732 tenements, or heritable subjects for any term not exceeding thirty-five years, shall be charged with the same Duty as if it were an actual Lease or Tack made for the term and consideration mentioned in the Agreement; - 4. Any Coupon or Warrant for Interest attached to and issued with any security entitling the holder thereof to receive any sum of Money amounting to £2 or upwards, shall be charged with the Duty of One Penny as a Receipt;
- 5. Where any Money, Stock, or Security is agreed or directed to be paid or raised or transferred for the purposes of any settlement, the Instrument containing such agreement or direction shall be charged with ad valorem Duty in respect of such Money, Stock, or Security, whether it is to be paid or raised or transferred in any event, or only in an event which may or may not happen;
§ When Money subject to the trusts of any Will or Settlement has been invested in the purchase of Real Estate, and such Real Estate is, under the trusts of such Will or Settlement, to be resold and in the meantime regarded as Money, any Instrument, whereby such Real Estate is settled or agreed to be settled, but which does not operate as an absolute election to take the same as Real Estate, shall be deemed a settlement of the Money so invested;
§ 6. The Stamp Duty on the appointment or admission to Ecclesiastical Benefices in Scotland shall be charged as an appointment or admission to Ecclesiastical Benefices in England;
| £ | s. | d. | |
| 7. That the Stamp Duty on the admission, appointment, or grant to or of any Office or Employment where the annual salary, fees, or emoluments appertaining to such office or employment exceed £300 shall be for every £ 100, and also for any fractional part of £100 | 5 | 0 | 0 |
| 8. That the Stamp Duty on the appointment of a New Trustee by any writing not being a Will or Deed shall be | 0 | 10 | 0 |
| 9. That the Stamp Duty on an Appraisement or Valuation, Award, or Decreet Arbitral, where the amount thereof exceeds £10 shall be for every £10, and also for any fractional part of £10 of such amount | 0 | 0 | 6 |
| 10. That the Stamp Duty on an Instrument of Apprenticeship where there is a premium or consideration shall be for every £5, and also for any fractional part of £5, of the amount or value of the premium or consideration | 5 | 0 |
§ 11. That the Stamp Duty on a Bond, Covenant, or Instrument of any kind whatsoever;
§ (1.) Being the only or principal or primary security for any annuity (except upon the original creation thereof by way of sale or security), or of any sum or sums of money 1733 at stated periods, not being interest for, any principal sum secured by a duly stamped Instrument, nor rent reserved by a Lease or Tack:
| For the term of Life or any other indefinite period shall be, | |||
| For every £5, and also for any fractional part of £5, of the annuity or sum periodically payable | 0 | 2 | 6 |
§ (2.) Being a collateral or auxiliary or additional or substituted security for any of the above-mentioned purposes where the principal or primary Instrument is duly stamped;
| For every £5, and also for any fractional part of £5, of the annuity or sum periodically payable. | 0 | 0 | 6 |
§ 12. That any Note, Memorandum, or writing for or relating to the sale or purchase of any Stock or marketable security of the value of £5 or upwards shall be chargeable with the Stamp Duty of One Penny as a Contract Note:
§ 13. That a Lease or Tack for a definite term not exceeding 35 years, or for an indefinite term granted in consideration of a sum of money by way of Fine, Premium, or Grassum paid for the same, and of a yearly rent under £20, shall be charged with Stamp Duty in respect of the yearly rent, as well as in respect of the Fine, Premium, or Grassum:—
| £ | s. | d. | |
| Not exceeding £5 per annum. | 0 | 0 | 6 |
| Exceeding £5 and not exceeding £10 | 0 | 1 | 0 |
| Exceeding £10 and not exceeding £15 | 0 | 1 | 6 |
| Exceeding £15 and not exceeding £20 | 0 | 2 | 0 |
| Exceeding £20 and not exceeding £25 | 0 | 2 | 6 |
| Exceeding £25 and not exceeding £50 | 0 | 5 | 0 |
| Exceeding £50 and not exceeding £75 | 0 | 7 | 6 |
| Exceeding £75 and not exceeding £100 | 0 | 10 | 0 |
| Exceeding £100 |
| For every full sum of £50, and also for any fractional part of £50 thereof | 0 | 5 | 0 |
§ 14. That the Stamp Duty on a Mortgage, Bond, Debenture, Covenant, Warrant of Attorney to confess and enter up Judgment, and on a Foreign Security of any kind, being a collateral, or auxiliary, or additional, or substituted Security, or by way of further assurance for the above-mentioned purpose where the principal or primary Security is duly stamped, shall be—
| For every £100, and also for any fractional part of £100, of the amount secured | 0 | 0 | 6 |
§ 15. That the Stamp Duty upon a Re-conveyance, Release, Discharge, Surrender, Re-surrender, Warrant to Vacate, or Renunciation of any Mortgage, Bond, Debenture, Covenant, Warrant 1734 of Attorney, to confess and enter up Judgment and Foreign Security of any kind, or of the benefit thereof, or of the money secured thereby, shall be—
| For every £100, and also for any fractional part of £100, of the total amount or value of the money at any time secured | 0 | 0 | 6 |
| 16. That the Stamp Duty on any Notarial Instrument to be expeded and recorded in any Register of Sasines shall be | 0 | 5 | 0 |
§ 17. That it is expedient to repeal the seventy-seventh section of the Act of the tenth year of King George the Fourth, chapter fifty, and to charge Instruments relating to Property under the management of the Commissioners of Her Majesty's Woods, Forests and Land Revenues with the same Duty as an Instrument of the same kind relating to the Property belonging to a Subject.
§ MR. KINNAIRDsaid, that great apprehension had been created in the City by a rumour that it was intended to enact that a penny stamp should be placed on every coupon, although it might be of almost infinitesimal value. He wished to know whether the rumour was correct.
§ THE CHANCELLOR OF THE EXCHEQUERsaid, he would give, the explanation sought for when the Bill was brought in.
§ House resumed.
§ Resolutions to be reported To-morrow; Committee to sit again upon Wednesday.