HC Deb 29 July 1909 vol 8 cc1437-8W

asked the Chancellor of the Exchequer whether, in view of the fact that the Stamp Duty of 1d. on contract notes (of the value of £5 and under £100) cannot be distinguished, as the duty is included among other postage and 1d. Inland Revenue stamps, regulations can be made requiring brokers on the Stock Exchange to use Inland Revenue stamps only on contracts instead of ordinary postage stamps, with a view to the considerable sum represented by such stamps being credited to the Inland Revenue account direct instead of being credited to the General Post Office?


My hon. Friend will readily understand that there is great convenience in the use of postage stamps for small transactions, and I scarcely think it would be desirable to have stamps specially appropriated to the 1d. duty on contract notes. I should explain that the amounts represented by these stamps are not credited to the General Post Office, as that Department pays over annually to the Inland Revenue a gradually increasing sum which is estimated to represent the Inland Revenue business for which postage stamps are used. The amount so paid by the Post Office in 1908–9 was £591,960.