HC Deb 22 June 1927 vol 207 cc1852-3

asked the Chancellor of the Exchequer what would be the estimated annual addition to the revenue were cheques for amounts below £2, with a stamp of 1d. upon each, introduced?


The cheque duty of 2d. applies to all cheques irrespective of amount, and the reduction of this duty to 1d. for cheques below £2would involve a substantial loss to the Exchequer, the precise amount of which I am unable to state.

61. Viscount SANDON

asked the Chancellor of the Exchequer if it is expected that the proposed test case in the Courts, with reference to Stamp Duties on small cheques, will be taken in time for an Amendment to be made to this year's Finance Bill; and, if not, whether such an Amendment will be included in any case as a safeguard?


Some considerable time must elapse before the final decision of the Courts can be obtained. My right hon. Friend does not think it necessary to propose any legislation in the mean while. As appears from a statement which he made a short time ago upon the matter, and which appeared in the Press, the Midland Bank has voluntarily arranged to stop the issue of the documents which are the subject of the test case.