HC Deb 27 June 1910 vol 18 c679

asked the Chancellor of the Exchequer whether, when preparing the new Budget, he will consider the advisability of introducing a Clause exempting from the incidence of the new Increment Duties all conveyances of land where the consideration is of less value than £500, on the same grounds and subject to the same conditions as those on which such conveyances are exempt from the increased Stamp Duties, seeing that in this class of small conveyances the expense and delay necessary in obtaining the official certificate required before the completion of the sale will be out of all reasonable proportion to the amount of revenue which will actually be receivable by the Exchequer?


If the intention of my hon. Friend's proposal is, in cases of properties of small value, to obviate expense and delay in connection with the presentation of the conveyances for the purpose of being impressed with the stamp referred to in Section 4 (3) (b) of the Finance (1909–10) Act, 1910, my right hon. Friend does not think that there is any sufficient reason for the suggested exemption. The obtaining of the stamp in question does not entail any appreciable degree of either expense or delay. As my right hon. Friend informed the hon. Member for the Chelmsford Division on the 20th instant, documents deposited with the Inland Revenue for stamping are not retained in the great majority of cases for more than twenty-four hours.